Reminder: Some families Will Win UCCB Lottery
Following are the key points about the UCCB benefit:
- The UCCB is increasing for
children under 6, from $100 per month per child to $160 per month, effective
January 1, 2015.
- The UCCB is also being
expanded to include a benefit of $60 per month for each child aged 6 through
17, effective January 1, 2015.
- Because these enhanced
benefits were announced in April 21 , 2015 but made effective retroactive
to January 1, 2015, families who qualify for the UCCB will receive a lump sum
for the additional amounts, payable on July 20, 2015.What does that mean? Parents with children
under age 18 living at home will be receiving a lump sum of $420 per child with
their July Child Tax Benefit payment. This amount represents the additional $60
per month per child payable as of January 1, 2015.This is a great opportunity for families who
will be winning the UCCB lottery to invest the lump sum in an RESP or TFSA for
maximum growth and tax savings.