Financial Benefits for Children in Nova Scotia
It can be very difficult to cover all of your child’s financial needs. If you don’t have the right amount of support from the government or those around, you. So, the government offers Financial Benefits for Children in Nova Scotia.
No matter where you live. Raising a child is very expensive in places like Nova Scotia. The birth rate can be relatively high. The average annual cost of living for a child is $ 10,000 to $15,000. Even the child is 18 years old.
There are also childcare, education, and recreational activities to consider. Fortunately, there are many federal and provincial programs available in Canada. They are specifically designed for parents, such as the Nova Scotia Child Benefit programs.
What are the financial benefits for children in Nova Scotia?
Each province and territory offer different government benefits to individuals, parents and families. In case of Nova Scotia, the Canada Revenue Agency operates two childcare-related programs.
They are known as the Nova Scotia Affordable Living Tax Credit.
In an ongoing effort to combat poverty in Nova Scotia. The provincial government is offering the Nova Scotia Child Financial Benefit to low-to-medium income families. Children under 18 who live at home.
If the family is eligible, they will receive a set monthly amount for each eligible child. The Nova Scotia Child Benefit can be combined with the federally funded Canadian Child Benefit and mailed or direct deposit to the recipient as a single payment.
Once acquired, the Nova Scotia Child, benefit can be used to cover:
- School expenses (tuition fees, supplies, etc.)
- Childcare costs (daycare fees, health care, etc.)
- Cost of living (groceries, activities, etc.)
Who is Eligible for Child Benefit in Nova Scotia:
In the past, the Nova Scotia Child Benefit was for families with an adjusted net income of $26,000 or less per year. However, families with income between $26,000 and $34,000 can become eligible to receive all or part of the Nova Scotia Child Benefit. Additionally, the government recently increased the amount of money an eligible family in Nova Scotia can receive for their first child from $625.00 to $925.00 annually.
And remember that your chances of approval and your payment amount depend on the number of children you have, as well as your family’s adjusted net income for the year.
How to get financial benefits for children in Nova Scotia:
Like many other financial benefits Canada has, the Canada Revenue Agency handles child benefit in Nova Scotia.
NO one in your household has to apply for the Nova Scotia Child Benefit or the Canadian Combined Child Benefit. As your family’s eligibility and payment dates are determined automatically after you file taxes.
Covering children’s prescription drugs
As a resident of Nova Scotia, you may also qualify for the provincial government’s Children’s Drug Care Program. Drug Care Program can provide coverage for your child’s prescription drugs despite the actual market cost of the drug.
Eligible parents must not have to pay more than $5.00 for any prescription. Families who typically receive financial assistance from the government like a disability support program or income assistance can qualify for this type of coverage as well.
If you would like to apply for a low-income drug program for children, just complete the appropriate forms and mail or fax them to the Nova Scotia Department of Community Services.
Before applying, keep in mind that your family must already be eligible for Nova Scotia Child Benefit to be eligible for this program.
Don’t worry if you are a Nova Scotia resident on a low to modest income and have one or more children under the age of 18, you will likely qualify for Nova Scotia Child Benefit.
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