The Canada Child Benefit is a tax-free monthly payment made to eligible families to help with the cost of raising children under 18 years of age. The CCB may include the child disability benefit and any related provincial and territorial programs.
The Canada Revenue Agency (CRA) administers CCB, and families will receive an annual statement by mail each summer. The statement shows the payments that parents will receive for the upcoming 12-month period. This statement is also accessible through the CRA website.
While completing your mortgage application, there are several lenders that will consider CCB income to use towards your qualification. In order to use this income, you must provide all pages of the CCB statement, as well as proof of the age of children. This is to ensure that children do not pass the 18 years of age requirement for the CCB program during the term of the mortgage.
The person who is primarily responsible for the care and upbringing of the child should apply for the CCB. That person is responsible for things such as:
- supervising the child’s daily activities and needs
- making sure the child’s medical needs are met
- arranging for child care when necessary
You must meet all of the following conditions:
- You live with a child who is under 18 years of age
- You are primarily responsible for the care and upbringing of the child
- You are a resident of Canada for tax purposes
- You or your spouse or common-law partner must be any of the following:
- a Canadian citizen
- a permanent resident
- a protected person
- a temporary resident who has lived in Canada for the previous 18 months, and who has a valid permit in the 19th month other than one that states “does not confer status” or “does not confer temporary resident status”
- an individual who is registered, or entitled to be registered under the Indian Act
For more information on the CCB program, please click here.