Alberta Budget 2019: The New Alberta Child and Family Benefit
Here are a few more details you should now about this new program:
• The new Alberta Child and Family Benefit starting in July 2020 will provide eligible families as much as $4,995 annually.
• Under the new program, a family with 2 children can receive up to $593 more per year while families with 4 children can receive up to $889 more per year.
• The new program includes both a base component and a working component with combined benefits increasing to a maximum of $5,120.
• The maximum base component ranges from $1,330 to $3,325 depending on the number of children. This base component will begin to phase out once family net income exceeds $24,467 and will be fully phased out when the family net income exceeds about $41,000.
• Families will be eligible for the working component once their family employment income exceeds $2,760. The maximum working component will range from $681 to $1,795 depending on the number of children. This component will begin to phase out once family net income exceeds $41,000 and will be fully phased out once family net income reaches $61,000.
• This benefit will be paid quarterly (August, November, February and May)
• The benefit is non-taxable and will not affect eligibility for other benefit programs.