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Canada Child Tax Benefit (CCTB). What is CCTB? “CCTB is a tax-free monthly payment made to...
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Transcript of Canada Child Tax Benefit (CCTB). What is CCTB? “CCTB is a tax-free monthly payment made to...
![Page 1: Canada Child Tax Benefit (CCTB). What is CCTB? “CCTB is a tax-free monthly payment made to eligible families to help them with the cost of raising children.](https://reader035.fdocuments.in/reader035/viewer/2022071808/56649f005503460f94c160e3/html5/thumbnails/1.jpg)
Canada Child Tax Benefit(CCTB)
![Page 2: Canada Child Tax Benefit (CCTB). What is CCTB? “CCTB is a tax-free monthly payment made to eligible families to help them with the cost of raising children.](https://reader035.fdocuments.in/reader035/viewer/2022071808/56649f005503460f94c160e3/html5/thumbnails/2.jpg)
What is CCTB?
“CCTB is a tax-free monthly payment made to eligible families to help them with the cost of raising children under age 18.”
![Page 3: Canada Child Tax Benefit (CCTB). What is CCTB? “CCTB is a tax-free monthly payment made to eligible families to help them with the cost of raising children.](https://reader035.fdocuments.in/reader035/viewer/2022071808/56649f005503460f94c160e3/html5/thumbnails/3.jpg)
What are the objectives of CCTB?
To reduce child poverty
To promote attachment to the workforce
To provide harmonization of programs and avoid duplication
![Page 4: Canada Child Tax Benefit (CCTB). What is CCTB? “CCTB is a tax-free monthly payment made to eligible families to help them with the cost of raising children.](https://reader035.fdocuments.in/reader035/viewer/2022071808/56649f005503460f94c160e3/html5/thumbnails/4.jpg)
Who is eligible for CCTB?
You must be the person who is primarily
responsible for the care and upbringing of a
child under the age of 18
![Page 5: Canada Child Tax Benefit (CCTB). What is CCTB? “CCTB is a tax-free monthly payment made to eligible families to help them with the cost of raising children.](https://reader035.fdocuments.in/reader035/viewer/2022071808/56649f005503460f94c160e3/html5/thumbnails/5.jpg)
How much does a family receive?
Basic benefit: $1283 per child under 18 Plus $90 for a third and each additional child Benefit Reduction: if family net income > $37,178:- One-child: reduction is 2% of the amount of family
net income that is > $37,178- Two or more children: reduction is 4% Payment amounts
![Page 6: Canada Child Tax Benefit (CCTB). What is CCTB? “CCTB is a tax-free monthly payment made to eligible families to help them with the cost of raising children.](https://reader035.fdocuments.in/reader035/viewer/2022071808/56649f005503460f94c160e3/html5/thumbnails/6.jpg)
Is CCTB achieving its objectives?
Changes in key trends indicate some success:
More low-income families are earning money from employment
Decline in number of children in families living on low income
![Page 7: Canada Child Tax Benefit (CCTB). What is CCTB? “CCTB is a tax-free monthly payment made to eligible families to help them with the cost of raising children.](https://reader035.fdocuments.in/reader035/viewer/2022071808/56649f005503460f94c160e3/html5/thumbnails/7.jpg)
Is CCTB achieving its objectives?Continued ….
One-earner families vs. single-parent and two-earner families
One-earner families, who deserve more CCTB than single-parent and two-earner families are indeed the ones who receive the most CCTB
![Page 8: Canada Child Tax Benefit (CCTB). What is CCTB? “CCTB is a tax-free monthly payment made to eligible families to help them with the cost of raising children.](https://reader035.fdocuments.in/reader035/viewer/2022071808/56649f005503460f94c160e3/html5/thumbnails/8.jpg)
Is CCTB achieving its objectives?Continued ….
Benefits have increased over time
The 2004 CCTB had highest average benefits
![Page 9: Canada Child Tax Benefit (CCTB). What is CCTB? “CCTB is a tax-free monthly payment made to eligible families to help them with the cost of raising children.](https://reader035.fdocuments.in/reader035/viewer/2022071808/56649f005503460f94c160e3/html5/thumbnails/9.jpg)
How does CCTB affect family decision making?
Depends on family type: single parent vs. two parent, traditional views or not
Cost Benefit Analysis to decide if second potential wage earner in a one earner family should work outside the home
![Page 10: Canada Child Tax Benefit (CCTB). What is CCTB? “CCTB is a tax-free monthly payment made to eligible families to help them with the cost of raising children.](https://reader035.fdocuments.in/reader035/viewer/2022071808/56649f005503460f94c160e3/html5/thumbnails/10.jpg)
What are the criticisms of the CCTB?
CCTB violates horizontal equity...
![Page 11: Canada Child Tax Benefit (CCTB). What is CCTB? “CCTB is a tax-free monthly payment made to eligible families to help them with the cost of raising children.](https://reader035.fdocuments.in/reader035/viewer/2022071808/56649f005503460f94c160e3/html5/thumbnails/11.jpg)
What are the criticisms of the CCTB?Continued….
Negative impacts on women...
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THE END
By: Anam Kidwai, Sumita Kanga,
Ridhi Kukreja and Safia Ahmed