We encourage you to study this page and become familiar with the complete information about Baby Bonus Dates 2024 in Canada: How much is the baby bonus, and when will it be released?
Baby Bonus Dates 2024
It’s difficult, gratifying, and expensive to raise children. Numerous needs must be taken care of, whether you go to daycare or remain at home with them. This is where the Canadian government’s Baby Bonus comes into play.
If you haven’t gotten your Baby Bonus payment by the 20th of the month, you should wait a week or so before calling CRA. It’s critical to understand Baby Bonus Dates 2024 as doing so will enable you to handle your money sensibly.
We therefore promise to provide the application process, payment dates, and other pertinent information in this page.
What is Baby Bonus Canada?
A baby bonus is a government payment intended to help parents with the expenses of raising a newborn or adopted kid. Currently, the Government of Canada provides a number of benefits, including the Canada Child Benefit.
A benefit that the Canadian government provides to families with children is called the Canada Child Benefit (Baby Bonus). Adjusted family net income is one of the elements that determine the benefit, which is paid on a monthly basis from July to June of the following year.
By giving low-income parents access to government-sponsored financial aid, the initiative aims to reduce poverty.
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?
July 2023 saw an increase in Baby Bonus payments to keep up with inflation. The amount of the Baby Bonus payments is updated each July using the adjusted net family income (AFNI) from the prior year. July 2024 is the date of another increment. You are eligible to get the full benefit if your AFNI is $34,863 or less.
You will get paid from July of that year to June of the next year if you file your taxes by the deadline of April 30. For every child younger than six, you can earn a maximum of $7,437 every year; for every child older than six, you can receive up to $6,275.
The extra $440 per child under six over the course of the following payment cycle, or around $36.67 each month, is the result of this 6.28% increase. The present payment cycle will conclude in June 2024, although this rise will continue until then.
When is it Coming Out?
June is the end of the Baby Bonus payment period, which begins in July. If you submit your application online, it should arrive in 8 weeks, and if you send it by postal, it will arrive in 11 weeks.
On the dates listed below, qualifying candidates will receive their Baby Bonus payments.
- 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
The CRA will release payment in one lump sum with the July payment if your total Baby Bonus for the tax year is less than $240. The CRA will assign due dates for monthly payments to anyone with Baby Bonus over $240.
Applying for Baby Bonus
If you reside with and are directly responsible for a minor kid (under the age of 18), you may be qualified to apply for the Baby Bonus. In order to file taxes, you also need to be a resident of Canada. Usually, the primary caregiver is regarded as the female parent.
Once your child is registered with your province, an automatic application for the Baby Bonus is made. As an alternative, you can register using CRA My Account or fill out the Canada Child Benefits Application, Form RC66.
When immigrants arrive in Canada with children born overseas, they can fill out Form RC66 and send it to the tax center that is closest to them. Your Baby Bonus application may not be processed for up to 11 weeks. Use the Canada Child Benefits phone number, 1-800-387-1193, to contact the CRA with any queries you may have regarding your Baby Bonus application.
Thanks for staying with us and reading the details we have compiled on Canada’s Baby Bonus program.