Newspaper article The Canadian Press

Three Facts about the Government's New Canada Child Benefit

Newspaper article The Canadian Press

Three Facts about the Government's New Canada Child Benefit

Article excerpt

Three facts about the new child benefit

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OTTAWA - The federal government's new child benefit will arrive in bank accounts and mailboxes starting Wednesday, and replaces the universal child care benefit, the Canada child tax benefit and the national child benefit supplement.

Here are three things to know about the new program:

1) If you already receive the universal child care benefit, or the child tax benefit, you don't need to apply for the new one. Your information is already on file and all you have to do is file your 2015 tax return. Payments will be made by direct deposit if you're signed up for it, or by cheque if that is how you received the universal child care benefit around the 20th of each month.

2) The new child benefit won't count as income, meaning it won't count against your tax return next year and be taxed like the previous universal child care benefit. …

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