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  1. #11
    Join Date
    Jun 2005
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    Default RE: So what are you doing with your 'Beer & Popcorn' money?

    You're entitled to it if you have a child under 6. It's called the UCB (Universal Childcare Benefit). It's $100 per child under 6. It's taxable income, however, so at the end of the year when you file your taxes it has to be declared... although it can be declared on whoever's income is lowest. So although the wife may be receiving the benefit in her name, if her income is higher than her husband's, it would be declared on his tax return.

    If you were already receiving the Canada Child Tax Benefit (which is based on income) then you would have received it automatically. You should have been given a CCTB application by the hospital when your child was born. You also "re-apply" for the CCTB when you file your taxes because the amount of CCTB received is based on your declared income of the previous year. So your tax return for 2005 will determine your monthly CCTB amount from July 2006 until June 2007.
    The first cheque for the UCB was in July and was mailed, even if you were receiving the CCTB directly into your bank account. Along with the first cheque is a form to request that the UCB be directly deposited. If you weren't receiving CCTB (because you had forgotten to file your taxes, or didn't apply for it once your children were born, or were making too much to be eligible for it) then you just make an application for the CCTB and although you may not be eligible for CCTB you'll receive the UCB if your child is under 6.

  2. #12
    bubbaray's Avatar
    bubbaray is offline Blue Diamond level (20,000+ posts)
    Join Date
    Sep 2003
    Location
    BC Canada
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    20,546

    Default RE: So what are you doing with your 'Beer & Popcorn' money?

    http://www.universalchildcare.ca/en/faqs_benefit.shtml

    Not sure how it works for children born abroad and where only 1 parent is Cdn. There is a # you can phone. For #2, you will likely get a whole folder of forms in the hospital, one of which is for the CTB described by PP. Not everyone is eligible for the CTB (income based), but fill out the form anyway because parents of any child under 6 DO get the UCCB. I did and here I sit 2 years later (having never received the CTB) with the $100 UCCB cheque cashed earlier this week.

    Good luck!

    Melissa

    http://b3.lilypie.com/rppJm7/.png[/img][/url]

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  3. #13
    bubbaray's Avatar
    bubbaray is offline Blue Diamond level (20,000+ posts)
    Join Date
    Sep 2003
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    20,546

    Default RE: So what are you doing with your 'Beer & Popcorn' money?

    Still undecided what to do with it. Our investments are taken care of, both RRSP and RESP-wise. Financially, I think a tax-credit investment (RRSP or similar) is probably better for us, given that the amount is taxable.

    I've also thought about charitable donations.

    Then again, beer and popcorn is pretty appealing. No beer until February for me, though.


    Melissa

    http://b3.lilypie.com/rppJm7/.png[/img][/url]

    http://bd.lilypie.com/fYrCm7.png

  4. #14
    psophia17 is offline Diamond level (5000+ posts)
    Join Date
    Aug 2004
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    Canada.
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    5,084

    Default RE: So what are you doing with your 'Beer & Popcorn' money?

    Thanks!

    I'm checking it out right now, and will be calling them tomorrow to figure out how to apply, given my status in Canada...

    $200 a month when #2 is born will come in handy like there's no tomorrow!
    Petra
    Mother of Two
    Owner of BaDumBums

  5. #15
    Join Date
    Mar 2006
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    Default RE: So what are you doing with your 'Beer & Popcorn' money?

    Interesting -- I did not realize it was taxable income. Guess nothing comes for *free*, but I'm not going to look a gift horse in the mouth.

    We also get $200. Right now it is going into the family *pot* (i.e. our bank acct) and it certainly will help w/our $1200/m daycare costs! But, if we can increase the RESP contributions we will.

    I also didn't see the insert for direct despost -- will have to sign up for that!!

  6. #16
    Piglet is offline Emerald level (3000+ posts)
    Join Date
    Apr 2002
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    Canada
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    3,903

    Default RE: So what are you doing with your 'Beer & Popcorn' money?

    Thanks to your thread, DH and I feasted on beer and popcorn while watching TV last night :)

    As for the money - I am not sure what to do with it. Isn't that silly? We already put some money every month to RRSP and RESP (auto-withdrawal). We already have a savings account for the boys thanks to savings bonds that my parents bought for me when I was a kid (thanks to the old child benefit). I don't want the money to go towards general expenses because then it will be wasted on things I don't truly need like Starbucks (or beer and popcorn). We do pay way too much for daycare and the only thing that would really improve the quality of life for us right now would be to park in our building downtown - DH, DS2 and I go to the same building for work and daycare. Parking is $300 a month!!! We currently park 10 minutes away for $150 a month, so the extra $200 would do a lot of good for that, but it seems so frivolous somehow... although I bet in winter I will really be tempted to park underground and not have to get dressed all warm for the trek to work. I can't decide if we should go for it or not.





    Mommy to:

    DS1 07/2001
    DS2 03/2005

    DD1 05/2007

    DD2 03/2014

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