The federal government is rolling out the new Canada Child Benefit program beginning in July.
The changes will see Ottawa giving more money to low and middle income families with children.
Canada Revenue Agency says the Canada Child Benefit program will replace the current Canada Child Tax Benefit and the Universal Child Care Benefit.
Susan Daley, an associate portfolio manager at Waterloo financial advisory firm PWL, says the changes streamline the benefit for families.
“The government has taken a couple different benefits that are currently being paid to families and (is) combining them into one to try and make it a little more simple,” says Daley.
Parents with children under the age of 18 are eligible, however the amount of money they receive depends on income, the number of children they have, and their ages.
While low and middle income families could receive more money with the new benefit, Daley says families in a higher tax bracket will likely be getting less.
Cambridge resident Angela Galley has two children under the age of six.
Galley says she’ll be receiving less money under the new program, but she still thinks the changes are a positive improvement.
“It will be helping people that are a lot less fortunate than my family,” says Galley.
The government has created a webpage where parents can go to calculate the amount they could receive.
With reporting by Alexandra Pinto and files from The Canadian Press
