It may be universal, but the new child care benefit doesn’t benefit everyone equally

Jul 23, 2015

National Post

July 21, 2015

The Universal Child Care is available to every Canadian with a child under the age of 18, it provides families extra money they can use however they please. 

But all of that taxable dollars that you receive as a parent of a child or children under the age of 18 isn't really yours after all.

While this may appear to be a significant amount of extra cash, you need to keep two things in mind: First of all, the enhanced UCCB is actually replacing the existing child tax credit. This non-refundable federal credit was available for the last time on the 2014 tax return and was based on $2,255 per child at a 15 per cent rate, and was therefore worth $338 per child. (Had it survived, it would have been worth slightly more this year as it was indexed to inflation).


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