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.
“Breaking the cycle of poverty for children and youth continues to be a key pillar of our Poverty Reduction Strategy. We know that investments in our children have benefits that last a lifetime. The latest increase in the Ontario Child Benefit will help families keep up with the rising costs of basic necessities and improve the lives of more than one million children.” said, Deb Matthews, President of the Treasury Board
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.
“We are proud of the progress we have made through initiatives that address child and youth poverty, including the Ontario Child Benefit. Our government is working hard to make a difference for children, youth and families.” said, Tracy MacCharles, Minister of Children and Youth Services
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.
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 Canadian 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.