By Canadian Press

Families get boosted Canada Child Benefit through sizable cost-of-living adjustment

Jul 20, 2023 | 9:57 AM

OTTAWA — Families eligible for the Canada Child Benefit are getting their July payments today, which includes a hefty cost-of-living adjustment.

Most federal benefits and credits increased by 6.3 per cent this month to reflect the pace of inflation in the previous year.

That means families can receive an annual total of up to $7,437 per child under the age of six and $6,275 per child ages six through 17.

The Liberals are highlighting the Canada Child Benefit today to mark its seven-year anniversary after they introduced it in their first budget.

Prime Minister Justin Trudeau is in southeastern Ontario today speaking to families about the impact of the benefit, which he says has reduced poverty across the country.

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In 2021, 7.4 per cent of Canadians lived in poverty, down from 12.9 per cent in 2016 when the benefit came into place.

This report by The Canadian Press was first published July 20, 2023.

The Canadian Press