The Canada Child Benefit Increase and Audit Risk

Families receiving the Canada Child Benefit (CCB) may have noticed an increase in their recent payments. Indexing takes place each July 1. Beginning in July of 2026, the CCB will provide families up to $8,157 per child under the age of 6 and up to $6,883 per child aged 6 to 17. There is audit risk that comes with that, however.

This fall, learn an important skill that’s in demand. Retirement income planning is a skillset in high demand by the baby boomer demographic—the most affluent generation in our history. 

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“Anything that you learn becomes your wealth, a wealth that cannot be taken away from you; whether you learn it in a building called school or in the school of life. To learn something new is a timeless pleasure and a valuable treasure.” C. JoyBell C.

Statistics Canada reports that an undergraduate degree costs close to $6200 but according to a new study,  80% of parents don’t know that.  Worse,  most parents are poorly informed about tax efficient ways to save, especially weak on RESP knowledge.  This is a great opportunity for tax and financial advisors to add significant value.

A highly engaged audience weighed in on who should fund post-secondary education as Knowledge Bureau’s August poll asked, in your opinion is it the parent’s responsibility.

It’s fall:  time to ramp up Canada’s economy! Possibly the only good news in Statistics Canada’s August 31 report on Gross domestic product, income and expenditure, for the second quarter 2016, was that Canada’s household savings rate was 4.2%, up from 4.1% in the first quarter.