The Canada Child Tax Benefit (CTTB), the Universal Child Care Benefit (UCCB) and the non-refundable child tax credit (CTC). [...] The Budget goes on to acknowledge that the actual value of the “$2,000” child tax credit is $2,000 times the lowest tax rate of 15 percent, but leaves readers to do their own math − the missing answer is $300. [...] However, the UCCB is subject to federal and provincial/territorial income taxes, so its value declines as the marginal tax rate of the lower-income parent in the cases of couples, or the single parent, increases. [...] It pays the same amount to all families with the same net income, regardless of the sources of that income, the province or territory in which they live or the type of family. [...] Our proposal would raise the Canada Child Tax Benefit’s maximum amount from the current $3,271 (for the first child) to $5,000 by increasing the basic benefit to $3,012 for the first child, $3,242 for the second child and $3,327 for the third and each additional child.
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