Tuesday, April 5, 2016 5:30 pm ·  0 Comments
The government’s first federal budget takes important steps to revitalize the Canadian economy, and delivers real change for the middle class and those working hard to join it. Ottawa is revamping the tax benefits for families with young children to put more money in the wallets of low and middle-income families starting in July 2016.
The government’s top priority is to build an economy that works for middle class Canadians, too many of whom struggle with the cost of raising their children. To give Canadian families more help the government has introduced the new Canada Child Benefit (CCB), a simpler, tax-free and more generous plan that will replace existing federal child benefits.
Families that qualify will receive a single payment every month beginning in July, 2016, tax free. Nine out of ten families will receive more in child benefits than under our current system. Families benefiting will see an average increase in child benefits of almost $2,300 in the 2016-17 benefit year with a maximum annual benefit of up to $6,400 per child under the age of 6 and up to $5,400, per child, aged 6 through 17. Families with less than $30,000 in net income will receive the maximum benefit.
Pam Damoff, MP for Oakville North-Burlington, invited Mr. François-Philippe Champagne, Parliamentary Secretary for Minister of Finance Bill Morneau to join her in her riding, along with Oakville MP John Oliver, to discuss Budget 2016 at a roundtable gathering of local business and community leaders on Monday, April 4, 2016. At the roundtable, Mr. Champagne spoke to the importance of the new CCB for Canadian families.
“This is a budget that will help Canadians – it is a defining moment,” said Mr. Champagne. “The Canada Child Benefit is the signature piece of our budget, the most significant social policy innovation in a generation. Our budget puts money in the pocket of Canadian families so they can help their kids go to camp, play sports, buy supplies or clothes for school. This is what Canadians asked for.”
At the roundtable, Mr. Champagne met Oakville residents Sergei Siamichev and his daughter Anastasia and assured them that the CCB would allow Anastasia to continue to enjoy the activities she loves so much like soccer.
“As the father of a young daughter, I am grateful for the Federal government’s creation of the Canada Child Benefit,” Siamichev told Mr. Champagne. “It means Anastasia can enroll in sports or school programs without us having to worry about costs. The CCB will make a big difference to my family.”
The CCB replaces the Canada Child Tax Benefit, the National Child Benefit Supplement and the Universal Child Care Benefit. The CCB, which will lift almost 300,000 children out of poverty, represents a major step forward towards the goal of ensuring that all children have a fair shot at success.
“I was pleased to host Mr. Champagne and Oakville MP John Oliver to discuss the budget and what it means for our local residents and businesses,” said Pam Damoff. “I am thrilled to see Budget 2016 address so many of the concerns residents in my riding shared with me during the budget consultation process in January, including benefits to families with young children with the CCB.”