Not sure when you’ll receive your Alberta Child and Family Benefit (ACFB) in 2023?
ACFB payments are issued quarterly in February, May, August, and November. Payments are sent on the last Friday of the month so that you can plan accordingly.
Below, I’ll show you the Alberta Child and Family Benefit payment dates. Then I’ll explain a bit more about the ACFB, who’s eligible, and how much you could receive.
ACFB Payment Dates For 2023
According to the CRA’s benefit page, the Alberta Child and Family Benefit payment dates for 2023 are:
- February 27, 2023
- May 26, 2023
- August 25, 2023
- November 27, 2023
The Alberta Child and Family Benefit is a relatively new program for Albertans, and some residents are still getting used to the change made to the previous Alberta child benefit program.
ACFB payments are issued four times a year and are usually disbursed on the last Friday of the month. This ensures that the parents have funds available to support them at the beginning of the following month.
In July 2020, the government of Alberta passed the Alberta Child and Family Benefit (ACFB), which combined aspects of the former Alberta Child Benefit and the Alberta Family Employment Tax Credit.
The Alberta Child and Family Benefit is a quarterly welfare payment that’s issued to eligible lower and middle-income families and parents living in Alberta.
The new ACFB program eliminated the prior ACB and AFETC tax credits and combined them both into a single benefit payment to be issued four times a year to eligible families.
The Alberta Child and Family Benefit primarily benefits low to middle-income families and is designed to provide additional assistance by reducing the financial burden of raising children.
Similar to the Canada Child Benefit, ACFB payments provide relief from the financial strain experienced by parents trying to make ends meet. The federal government issues the CCB to all eligible parents with dependent children under 18.
However, many provinces also offer their own perspective child benefits that are paid in addition to the CCB benefit that you receive from the CRA. In most cases, if you’re eligible for maximum CCB benefits, you’ll generally apply for maximum ACFB benefits.
Your acceptance for one benefit program won’t affect your acceptance for the other, and many Alberta residents receive both the CCB and the ACFB.
The main difference between the two benefits is that the CCB is paid on a monthly basis around the 20th of each month, while ACFB payments are sent out on the last Friday of February, May, August, and November.
The Alberta Child and Family Benefit are divided into two separate benefit payments, as it’s a combination of two previous benefit programs:
- The ACFB base component
- The ACFB working component
The ACFB base component is the primary child benefit offered by the province of Alberta to all eligible parents. Many Albertans also qualify for the additional ACFB working component, which is provided to families earning more than $2,760.
The amount of your ACFB benefit depends on your income level and the number of children you have. Here’s how much you could receive if you’re approved for maximum ACFB benefit payments:
|Number of Dependent Children (Under 18)||ACFB Base Component (Annual Amount)||ACFB Working Benefit (Annual Amount)|
The payments listed in the table above represent the annual amount that you may receive. This annual amount is divided evenly among four quarterly payments.
For example, if you are eligible to receive the maximum base and working components for two children, then you could receive $3,296 ($1,995 + $1,301). This would then be divided into four quarterly payments of $824.
The benefit payment that you’re eligible to receive depends on your level of income and how many children you have. If you have more children or your income changes, then your benefits may be increased or decreased accordingly to ensure that the system is fair for everyone.
Any changes will be automatically accounted for whenever you file your annual income tax returns with the CRA.
The ACFB benefit is issued by the CRA and will be sent via direct deposit to the bank account associated with your taxpayer profile (where you receive your other benefits). If you have not set up a CRA MyAccount online and still use mail correspondence, then you may receive your ACFB benefit as a mailed cheque.
Unlike the CCB, which has looser eligibility requirements, the ACFB benefit is reserved for lower to middle-income Albertan families. The eligibility requirements to receive the ACFB are as follows:
- You must be a full-time resident of Alberta
- You must have at least one child under the age 18
- You must have filed the previous year’s personal income tax returns
Additionally, you must also fall within the income requirements for the Alberta Child and Family Benefit. The program is rather vague on the exact income requirement, so I assume that your living expenses are also factored into the government’s benefit calculation.
However, Alberta’s website provides the following notes on the ACFB:
- The base component of the ACFB is reduced once a family’s net income exceeds $24,467
- The working component of the ACFB is reduced once a family’s net income exceeds $41,000
Unlike some provincial benefits that must be applied for individually, the Alberta Child and Family Benefit are issued automatically, based on the information that you provided on your family’s most recent tax returns.
ACFB payments are technically funded using tax dollars collected from Alberta residents. Like other tax-funded benefits, the ACFB payment does not count toward your family’s taxable income.
Although ACFB payment dates may differ slightly from year to year, the CRA typically issues payments to eligible beneficiaries on the final Friday of February, May, August, and November as quarterly payments.
The ACFB is just one of many provincial payments issued to Canadians. Continue reading to read about other provincial tax credits and benefits you may be eligible for!