Concepts and Numbers to Memorize

Question 2

CCB Amount and Clawback, and chilcare expenses impact, other deductions and when payments change

Answer 2

child under 6 7700, child 6-17(under 18) 6500. clawback. 36k first tier of clawback. 79k lower tier of clawback begins. more children, the greater the clawback amount. dec=deductions help, (including childcare expenses). separated couples split ccb (assuming both are custodial) results in less because both parents subject to separate clawback. (pension deductions, cpp deductions, rrsps, fhsa, spousal support. july to june, like oas

Question 3

CCB clawback rates

Answer 3

1 child 7% and 3.2%
2 children 13.5 and 5.7
3 children 19 and 8
4 children or more 23 and 9.5