New child benefits may not be worth as much as advertised, experts say

Jul 23, 2015

CTV News

July 21, 2015

The ads are out and the cheques are being mailed out. As the ads promote the increase in the Universal Child Care Benefit that provides almost $2000 annually is really not the real deal. 

The UCCB is taxable and eliminates the Child Tax Credit. 

 

“On the one hand they’re giving more money, on the other hand they’re taking it away,” said tax expert Fred O’Riordan of Ernst & Young LLP.

Liberal finance critic John McCallum said the Conservative government’s decision to roll out the cheques now and then tax them later was “purely political.”

Read the full article here 

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