Canada Child Benefit Young Child Supplement (CCBYCS)

Walter Harder

Last summer, the government announced a new temporary supplement for families with children under the age of 6 entitled to the CCB: The Canada Child Benefit Young Child Supplement. Those who have not tapped into this program and had eligible children in 2021 still have until the end of 2023 to become eligible for the CCBYCS payments. That means that they must have applied for the Canada Child Benefit and filed their 2019 and 2020 return by that deadline.

About the CCBYCS: In 2020, parents of children under age six received up to $1,200 per child (half that if their net income exceeded $120,000).  The first payment was made in May (which included both the January and April benefit) and was based on family net income for 2019.  The next two payments, made in July and October were based on family net income for 2020.

Couples that did not file their tax returns for 2019 did not receive the April payment and those who did not file their returns for 2020 did not receive the July and October payments.

But, it’s not too late to receive the CCBYCS payments.  Those who had eligible children in 2021, have until the end of 2023 to become eligible for the CCBYCS payments. 

Additional educational resources: Don’t miss this opportunity to take Canada’s most up-to-date and comprehensive Advanced T1 Tax Update Course for Professional Tax Accounting firms and their new and returning staff who will file 2021 T1 Returns. This is Canada’s #1 tax training program for busy practice owners who need to recruit and train staff in time for this tax season.