New benefits provided for the middle class and worker
Jan. 10, 2019
Global Korean Post
The Government of Canada has created three new benefits that provide more support to middle class Canadians and those working hard to join the middle class.
Today, the Honourable Jean-Yves Duclos, Minister of Families, Children and Social Development, was in Scarborough to announce the impact that the three new benefits, the Canada Child Benefit (CCB), the Canada Workers Benefit (CWB), and the Canada Housing Benefit (CHB), will have on Canadians.
When the final benefit is launched in 2020, a family making low-income wages with one child under 6 years old and one child age 6-17 could receive up to $17,000. This compares with $12,443 under the previous system of child benefits and the Working Income Tax Benefit (WITB).
In July 2016, the Government launched the Canada Child Benefit. This new simpler and tax free benefit, provides more money to 9 out of 10 families. In July of 2018, the Government began indexing the CCB to inflation. This change means that for a single parent earning $35,000 with two children, the indexation of the CCB will contribute nearly $600 towards the increasing costs of raising his or her children for the 2019–20 benefit year.
Announced in Budget 2018 and starting this year, the new Canada Workers Benefit will provide more support to Canadians who are working hard to join the middle class. This new benefit replaces the old WITB system and will help lift an additional 74,000 Canadians out of poverty.
For example, a single individual without children could receive more than $1,300, while a single parent or a worker in a couple could receive more than $2,300. That’s more money to help cover costs such as healthy food and clothing.
Announced in November of 2017, and launching in 2020, the CHB will provide up to $2,500 to Canadians in housing need. Designed to meet local needs and delivered by provinces and territories, the CHB will be a new tool to fight the challenge of housing affordability. As part of the National Housing Strategy, the CHB is expected to help 300,000 families for whom housing affordability is a challenge.
Initiatives like these support the Government’s overall commitment to improve the well-being of all Canadians and strengthen the middle-class and those working hard to join it.