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Child Tax Benefit Worksheet

Estimate your child tax benefit with the following worksheet

Step 1Months2018 Basic BenefitTotal Basic Benefit
Number of children and months children are under 6 X $6,496.00/12 
Number of children and months children are 6-17 X $5,481.00/12 
Total Basic Benefit (Step 1)   

 

Step 2 Benefit reduction                                            
Adjusted Family Net Income (AFNI)
   Reduction
 
First reduction for the portion of income between $30,450 and $65,975.00.
 
Family with one child (maximum $35,525)
 7.00%
 
Family with two children (maximum $35,525)
 
13.50%
 
Family with three children (maximum $35,525)
 19.00%
 
Family with four (or more) children (maximum $35,525)
 
23.00%
 
Second reduction for the portion of income over $65,975
 
Family with one child (AFNI - $65,975)
 3.20%
 
Family with two children (AFNI - $65,975)
   
5.70%
 
Family with three children (AFNI - $65,975)
 
8.00%
 
Family with four (or more) children (AFNI - $65,975)
 
9.50%
 
Total reduction Amount (Step 2)
 
 
 

 

Step 3 Net Basic Benefit
Net Benefit
 
 
Step 1
  
Step 2
  
Total Net Basic Benefit
  
Total Net Basic Monthly Benefit
  

 

Estimate the Ontario Child Benefit

 

Step 1 Ontario Child Benefit
Months
2018 Basic Benefit
 Total Basic Benefit
Number of children and months under 18
 X $1,403.00/12
 

 

Step 2 Benefit reduction                                          
Adjusted Family Net Income (AFNI)
Reduction
 
Subtract 2018 base amount
 $ 21,416.00
AFNI over base amount
 
Reduction rate
8%
Total reduction amount
 

 

Step 3 Net Basic Benefit
Net Benefit
 
 
Step 1
  
Step 2
  
Total Net Basic Benefit
  
Total Net Basic Monthly Benefit
  

 

All amounts are based on information available to us at the time of preparing this chart. While great care has been taken in the preparation of this document, we make no claim as to the accuracy of the information and do not guarantee any amounts.

Click here to calculate your own Child Tax Benefit or use the blank worksheets above. The Economic Statement provided proposed increase in the benefit to keep pace with inflation and raising cost of living. You can find the new projected figures here.

Call 1-519-756-7171