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Navigating the different benefits offered in Canada and fully understanding how these benefits can impact your life can be daunting. The sheer volume of Canadians who send messages and emails to online payday loans companies asking if their different types of benefits qualify as income indicates that a detailed blog was definitely in order! So, iCash to the rescue! We have written this informative piece in order to fully explain one particularly common form of Canadian benefits: Canada Child Benefit.


The Canada Child Benefit, also commonly referred to as CCB, is a tax-free monthly stipend sent to any family with a child or children under the age of 18 years old. As of 2016, it replaced the Child Tax Credit and the Universal Child Care Benefits. The amount differs from family to family and is calculated based on how many children you have as well as your annual family income. The CRA uses the information provided in your yearly income taxes in order to calculate the payment amounts. These benefit payments are sent out every month, from July to June, and then, the following July, the amounts are recalculated based on the current year’s filed tax returns.


So, this benefit sounds great, but who exactly is eligible? The great part of this particular benefits is that just about every parent caring for a child under 18 years of age is eligible here in Canada. This is great news, considering all parents everywhere know just how expensive raising a child can be! In order to qualify for the Canada Child Benefit, you must:
• Live with the child of under 18 years
• You must be the primary caregiver for the child
• You must be a resident of Canada
• You or your spouse must be either a Canadian citizen or a permanent resident, a protected person or a temporary resident or an Indian within the meaning of the Indian Act.
You can apply directly to start receiving your benefits as soon as your child is born.
For people with shared custody for the child (or children), you can still qualify to receive your benefits. After applying, the government will help determine the amount you qualify for. If you share custody on an equal basis, each parent will receive 50% of the payment. It is important to make sure that your information is kept up-to-date in order to make sure that you are receiving the correct amount of your benefits.


The Canada Child Benefit amount varies from family to family based on a number of factors. The payments are calculated for a period of one year, from July to June of the following year. The criteria used in determining the amount to which you are entitled are:
• The number of children that currently live with you and for whom you are the primary caregiver
• The ages of your children (under 18)
• Your annual family income
Every year, this amount is recalculated based on the new information provided in your Canadian tax returns.
The amounts of the CCB are: $6,496 per year for children under the age of 6 and $5,481 per year for children aged 6 to 17. These are the amounts for families who make less than $30,450 annually. For families that make more than $30,450, these amounts are reduced. For more information on the exact calculations for your family, see the CRA website calculator here.


Having a family, especially as a single parent, can get expensive. And when those “expensive” times of the year creep up, such as the holidays and back-to-school, it can be even more so! Sometimes access to some emergency funds is needed. Although many large banks might not acknowledge government benefits when calculating income, several alternative lenders will. iCash, as an example, qualifies people based on their monthly income which can include government benefits such as disability, Old Age Pension, as well as Canada Child Benefit. The main criteria for many lenders is your ability to pay back the loan on time. When coupled with other monthly income, your Child Benefits often make up the minimum required amount for a loan.

As always, it is important to research any alternative lender before applying for a loan. Unfortunately, there are scams out there and doing your due diligence to avoid them is your best defense. Check out our blog on How to Spot a Scam.


One of the most common questions that is asked by people who wish to borrow against their Canada Child Benefits is how to fill out the loan application. It can sometimes get confusing! Here is the step-by-step guide on how to fill out the iCash loan application with Child Benefits:

Employment Status: Child Tax Benefit
Employment Title: Child Tax
Company: Government
Time at this job: (the length of time you have been receiving the Child Tax)
Employment Address: Your home address
Direct Manager: Government
Company phone: 800-387-1193

Hopefully, this informative blog helped to clear up any and all questions you may have regarding Canada Child Benefits. If you have any further questions, don’t hesitate to reach out to the iCash team!

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