Canada Child Tax Credit receives boost

Catholic New Times, March 16, 2003

OTTAWA -- The new federal Budget commits to a slow but steady build-up of the National Child Benefit (NCB) supplement over five years. This includes accelerating the increase in the maximum benefit to $2,600 by July 2003. Beyond that, the value of the benefit in inflation-adjusted dollars increases to a maximum of $3,000 for the first child by 2007. At two per cent annual inflation, the actual dollar amount paid in 2007 will be $3,243.

The NCB supplement, a part of the Canada Child Tax Credit (CCTB) targets low-income households. These new increases raise the NCB supplement above the 'clawback' level, putting more money in the pockets of low-income families.

'The Budget also alluded to a reduction rate for the CCTB. That adjustment could deliver more benefits to modest income families, according to the Citizens for Public Justice.