Families in Canada are getting some extra money from the government next week

Families eligible for Canada's child tax benefit should keep an eye on their bank accounts this month.

The Canada Child Benefit (CCB), a tax-free monthly payment that aims to help eligible families with the cost of raising children under 18, will be sent out on May 20.

In July 2024 (the beginning of the new benefit year), the federal government upped the child tax benefit by 4.7 per cent. The maximum payment for kids under six increased by $350, from $7,437 to $7,787. For children aged six to 17, it increased by $295, from $6,275 to $6,570.

Parents and guardians can expect another child tax benefit payment increase in July 2025, but it will not be as big as last year's raise.

According to the Canada Revenue Agency (CRA), families can look forward to a 2.7 per cent boost, bringing the annual base benefit for children under six from $7,787 to $7,997 ($666 monthly) and from $6,570 to $6,748 ($562 monthly) for children aged six to 17 until June 2026.

The Child Disability Benefit (CDB) will also increase from $3,322 to $3,411 in July.

If you're eligible for the CCB, but still haven't filed your taxes, you won't receive the payment until your 2024 tax return is assessed.

In January, the CRA changed the rules surrounding the death of an eligible CCB recipient.

Child tax benefit programs in provinces

There are also provincial child benefit programs in Ontario and Alberta.

In British Columbia, families can apply for the provincial family benefit, which includes a six-month bonus, valid until June 2025.

With the maximum annual benefit, parents and guardians could get $2,188 for their first child, $1,375 for their second child, and $1,125 for each additional child, including the bonus payment.

Families can check their eligibility for the CCB by taking the government's eligibility test.

Check out other ways Canadians could get money from the government this month.