The Alberta Child and Family Benefit (ACFB) is a financial support program designed to assist families in Alberta with children under the age of 18. The ACFB provides quarterly payments based on family income, helping to alleviate the costs of raising children.
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ACFB Notice
The ACFB notice refers to the notification families receive from the Canada Revenue Agency (CRA) regarding their eligibility and payment amounts for the benefit. This notice is crucial as it outlines:
- The family’s eligibility status.
- The amount of benefit the family will receive based on their reported income.
- Any updates or changes to payment schedules?
Families are automatically assessed for ACFB eligibility when they file their income tax returns, so it’s important to file taxes annually even if the family has little or no income.
Income Criteria for 2024
Eligibility for the ACFB is determined by the family’s net income as reported on their previous year’s tax return. Here are the key income criteria for 2024:
- Maximum Income Thresholds:
- Families with one child can qualify for the maximum benefit if their net income is below $43,295.
- The benefit begins to decrease as household income rises and phases out completely at approximately $95,000 for families with more than one child.
- Benefit Amounts:
- One child: Up to $1,330 annually.
- Two children: Up to $2,067 annually.
- Three children: Up to $2,803 annually.
- Four or more children: Up to $3,325 annually.
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Additional Notes
- Families must ensure their tax information is up-to-date with the CRA to receive accurate payments.
- The ACFB is distributed quarterly alongside the Canada Child Benefit, with payments scheduled throughout the year.
For more detailed information on the ACFB and its eligibility criteria, you can visit the official Government of Alberta website and the Canada Revenue Agency.