We encourage you to read this post to gain a comprehensive understanding of Baby Bonus Dates 2024 in Canada. Discover detailed information on the amount of the Baby Bonus and the specific dates it will be issued.
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Baby Bonus Dates 2024
Raising children is challenging, rewarding, and costly. Whether you use daycare services or stay at home with your kids, numerous needs must be met. This is where the Canadian government’s Baby Bonus comes in.
If you haven’t received your Baby Bonus payment by the 20th of the month, wait about a week before contacting the CRA. Knowing the Baby Bonus Dates for 2024 is crucial for managing your finances effectively.
In this post, we will provide you with the application process, payment dates, and other important information.
What is Baby Bonus Canada?
A baby bonus is a government payment designed to assist parents with the costs of raising a newborn or adopted child. In Canada, the government offers several benefits, including the Canada Child Benefit.
The Canada Child Benefit, often referred to as the Baby Bonus, is a benefit provided by the Canadian government to families with children. The benefit amount is determined by factors such as adjusted family net income and is paid monthly from July to June of the following year.
This program aims to reduce poverty by providing low-income parents with access to government-sponsored financial aid.
Baby Bonus Dates Overview 2024
| Post Title | Baby Bonus Dates 2024 |
| Country | Canada |
| Supervised By | CRA |
| Payment Dates | 20-th of every month |
| Baby Bonus Amount | $7,437/year |
| More Information on | Canada.ca |
How Much is Baby Bonus?
In July 2023, Baby Bonus payments were increased to keep pace with inflation. The amount of these payments is updated each July based on the adjusted net family income (AFNI) from the previous year. Another increase is scheduled for July 2024. You are eligible for the full benefit if your AFNI is $34,863 or less.
If you file your taxes by the April 30 deadline, you will receive payments from July of that year to June of the following year. For each child under six, you can receive up to $7,437 annually; for each child over six, you can receive up to $6,275.
The 6.28% increase results in an additional $440 per child under six for the next payment cycle, or approximately $36.67 each month. This increase will remain in effect until the current payment cycle ends in June 2024.
When is it Coming Out?
The Baby Bonus payment period runs from July to June. If you submit your application online, it should be processed within 8 weeks, while applications sent by mail will be processed within 11 weeks.
Eligible candidates will receive their Baby Bonus payments on the following dates:
January 19, 2024
February 20, 2024
March 20, 2024
April 19, 2024
May 17, 2024
June 20, 2024
July 19, 2024
August 20, 2024
September 20, 2024
October 18, 2024
November 20, 2024
December 13, 2024
If your total Baby Bonus for the tax year is less than $240, the CRA will release the payment in one lump sum with the July payment. For those with Baby Bonuses over $240, the CRA will assign due dates for monthly payments.
Applying for Baby Bonus
If you live with and are directly responsible for a minor child (under the age of 18), you may be eligible to apply for the Baby Bonus. To file taxes, you must also be a resident of Canada. Typically, the primary caregiver is considered to be the female parent.
When your kid is registered with your province, an automated application for the Baby Bonus is sent. Alternatively, you can register using CRA My Account or by filling out the Canada Child Benefits Application, Form RC66.
When immigrants arrive in Canada with children born overseas, they can complete Form RC66 and send it to the nearest tax center. Your Baby Bonus application may take up to 11 weeks to process. For any questions regarding your Baby Bonus application, contact the CRA at 1-800-387-1193.
Thank you for staying with us and reading the details we have compiled on Canada’s Baby Bonus program.