CCTB, also known as the Canada Child Tax Benefit, is a financial assistance program provided by the government of Canada to help support families with children. It is a monthly tax-free payment that aims to alleviate the costs associated with raising children and provide financial support to low and moderate-income families.
The CCTB is intended to assist families with the costs of raising children under the age of 18. It is provided based on factors such as the number of children in the family, the family's income, and whether the child has a disability. The benefit amount may change each year as it is adjusted for inflation.
To be eligible for the CCTB, families must meet certain criteria, including residency in Canada, having primary responsibility for the care and upbringing of the child, and filing their income tax returns. The benefit amount is calculated based on the family's net income, and it is determined using a sliding scale, where lower-income families receive a higher benefit.
The CCTB aims to improve the well-being of children in Canada by helping families meet their needs, including essentials such as food, clothing, and other basic necessities. It serves as a means to reduce child poverty and allows families to invest in their children's education, health, and overall development.
Overall, the CCTB is a social welfare program that provides financial assistance to eligible families with children, with the goal of promoting the welfare and development of children throughout Canada.
