If you’re living in Alberta and have children under 18, you might be eligible for the Alberta Child and Family Benefit (ACFB). This financial aid helps families with low to moderate incomes. In this article, we’ll cover important details about the $1510 ACFB payment for August 2024. You’ll learn about the payment dates, eligibility requirements, the benefit amounts, and more.
What is the Alberta Child and Family Benefit (ACFB)?
The Alberta Child and Family Benefit (ACFB) is a financial support program provided by the Canadian government. It’s designed to assist low- and middle-income families with children under 18. The ACFB is tax-free, meaning you don’t have to pay taxes on it. It consists of two parts: the base component and the working component.
Base Component: This part of the benefit is for families regardless of whether they are working or not. It helps families with a low income.
Working Component: This part is for families who are earning a working income. If your family’s income is higher, you could get more money from this component.
$1510 ACFB Payment Date August 2024
For August 2024, the Alberta provincial government will send out the third installment of the ACFB on the 27th. There’s no need to apply separately for this benefit. The payment will be deposited directly into your bank account or sent via cheque, depending on how you receive it.
To qualify for the $1510 ACFB payment, your annual income must be below CAD 27,024. If you earn more, your benefit amount will be lower. The ACFB is issued quarterly, meaning you will receive it four times a year.
How to Check Your Eligibility
To receive the ACFB, you need to:
- Be a permanent resident of Alberta.
- Have a child under 18.
- File your tax returns for the previous year.
- Meet the income requirements set by the Canada Revenue Agency (CRA).
The CRA will review your tax return to determine if you are eligible for the benefit.
ACFB Benefits Breakdown
The ACFB includes two parts: the base component and the working component. Here’s how much you can receive:
Base Component
| Number of Children | Maximum ACFB Base Component | Monthly Amount |
|---|---|---|
| 1 Child | CAD 1,510 | CAD 125.83 |
| 2 Children | CAD 2,204 | CAD 183.66 |
| 3 Children | CAD 2,939 | CAD 244.91 |
| 4 or More Children | CAD 3,674 | CAD 306.16 |
Working Component
| Number of Children | Maximum ACFB Working Component | Monthly Amount |
|---|---|---|
| 1 Child | CAD 752 | CAD 62.60 |
| 2 Children | CAD 1,437 | CAD 119.75 |
| 3 Children | CAD 1,847 | CAD 153.91 |
| 4 or More Children | CAD 1,982 | CAD 165.16 |
Payment Schedule for 2024
The ACFB payments are made on the 27th of August, November, February, and May. If the 27th falls on a weekend or holiday, you will receive the payment on the previous business day.
Payment Dates for 2024
| Quarter | Payment Date |
|---|---|
| 1st | August 27, 2024 |
| 2nd | November 27, 2024 |
| 3rd | February 27, 2025 |
| 4th | May 27, 2025 |
Conclusion
The Alberta Child and Family Benefit is an important support for families in Alberta. The $1510 payment in August 2024 is part of a quarterly benefit designed to help those with low to moderate incomes. Make sure to check your eligibility and keep track of the payment dates to ensure you receive your benefits on time.
FAQ’s
What is Alberta Child and Family Benefit?
The Alberta Child and Family Benefit (ACFB) is a tax-free payment that helps low- and middle-income families with children under 18 in Alberta.
What is the $1510 ACFB Eligibility 2024?
To qualify, you must be a resident of Alberta, have children under 18, file your tax returns, and meet income requirements.
What is the payment frequency of the ACFB program?
The ACFB is paid quarterly on the 27th of May, August, November, and February.