I have seen post after post on the Universal Child Care Benefit and there seems to be some HUGE misunderstandings on it. There appear to be lots of seniors, single childless people and couples without children furious and want to know why they don’t get money. We are talking an amount of $60 per month per child.
- It is taxable income; when it is time for taxes to be done; taxes will need to be paid on this amount!
- In many cases it will push people to the next income tax level meaning they will need to pay more income tax than every before.
- People with children were once able to claim children on depends on their taxes; they can no longer do that.
- A single person with children cannot take advantage of income splitting where as married couples can.
- People with children pay taxes on many items those without children don’t such as diapers, wipes, etc That includes those on “welfare” as many say.
- It is not really a benefit; it will basically get given back when people do their income tax.
- The reason it was not paid in January, instead paid in in July is so that is is fresh in the minds of those who received it not far before the election.
- I have seen comments saying those who make a higher income shouldn’t get it. I have had salary jobs that are $30 000 a year & $60 000 a year and due to income tax bracket; the amount of take home pay is not much different.
- Many Many people you think “make more money” are not as well off as you may think; living primary on credit.
Things are not always as they appear!
Just like magicians can perform illusions; so can may other people & circumstances.