The Government of Canada announced in their Budget a new benefit to help parents with the high cost of raising their children.  Eligible families will receive their first Canada Child Benefit payment starting tomorrow.  The new Benefit will be issued monthly to Canadians and will replace the Canada Child Tax Benefit including the National Child Benefit Supplement and the Universal Child Care Benefit.

The Government states the new Child Benefit will be simpler with a single payment every month, tax free, better targeted at those who need it most with low and middle income families receiving more benefits and more generous with families benefiting seeing an average increase in child benefits of almost 23 hundred dollars in this benefit year. The maximum annual benefit will be up to 64 hundred dollars per child under six and up to 54 hundred per child 6 through 17.

Parents who already receive a child benefit and who file their income tax and benefit return will automatically be eligible for the new benefit.