Ontario is increasing its maximum monthly Ontario Child Benefit (OCB) payment to help eligible families with the cost of raising children. The OCB supports about 500,000 families across Ontario.
The OCB provides direct financial support to low- to moderate-income families with children under the age of 18. Starting July 1, 2015, the OCB, which supports about one million children in Ontario, will be increased to a maximum of $1,336 per child, per year. Tying future increases to the Ontario Consumer Price Index will ensure that the OCB keeps pace with inflation now and in the future.
Ontario’s Poverty Reduction Strategy, which includes the OCB, has helped lift 47,000 children and their families out of poverty.
Breaking down barriers for low-income Ontarians and reducing poverty is part of the government’s plan to build Ontario up. The four-part plan includes investing in people’s talents and skills, making the largest investment in public infrastructure in Ontario’s history, creating a dynamic, innovative environment where business thrives, and building a secure retirement savings plan.
Quick Facts
- The income threshold at which the OCB starts to be reduced will also be tied to inflation, meaning that more families will be eligible to receive the maximum benefit. The OCB provides direct financial support to about one million children under the age of 18.
- Families who have filed their previous year’s income tax return and have registered their children for the Canada Child Tax Benefit will be automatically assessed for OCB eligibility by the Canada Revenue Agency.
- Through the Ontario Child Benefit Equivalent, Children’s Aid Societies receive funding to provide children and youth in care more recreational, educational, cultural and social opportunities.
June 18, 2015 – Ministry of Children and Youth Services
Source: http://news.ontario.ca/mcys/en/2015/06/government-increasing-ontario-child-benefit-to-help-500000-families.html
