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HomeSarkari Yojana$367.23 ACFB November 2024 Payment - Check the Payout Date!

$367.23 ACFB November 2024 Payment – Check the Payout Date!

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The Alberta province government supports lower and middle-income families with children with Alberta Child and Family Benefits. The ACFB recipients must be expecting their November quarterly payment, let’s see when you can expect your payment with other relevant details.

$367.23 ACFB November 2024 Payment

The Alberta provincial government provides Child and Family benefits as part of Canada’s Child benefit, which the Albertans receive separately from ACFB payments. The Canada Revenue Agency administers the ACFB payments and ensures that eligible Albertans will be able to provide a better quality of life to their children. 

The ACFB supports lower and middle-income earning families with dependent children under 18. Under the ACFB, the authority sanctions the benefit payment quarterly and now the Albertans are expecting their November payment for three months. According to the benefit, the eligible Albertans receive payments in two components- the base component and the working component. 

Here’s, the following maximum base component is based on the no. of children from July 2024 to June 2025, regardless of income:

  • For One Child, you will receive $367.23 ($122.41 per month) and annually $1469
  • For Two children, you will receive $483.75 ($161.25 per month) and annually $2204.
  • For three children, you will receive $483.75 ($61.25 per month) and annually $29,39
  • For four or more children, you will receive $483.75 ($61.25 per month) and annually $3674. 
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Now the working component of the ACFB is for families with a working income of more than $2,760. The recipients receive the payment at the growing rate of 15% for every additional dollar earned over the above income threshold.

  • For One Child, you will receive $187.98 ($62.66 per month) and annually $752
  • For Two children, you will receive $171.24 ($57.08 per month) and annually $1437.
  • For three children, you will receive $102.48 ($34.16 per month) and annually $1847
  • For four or more children, you will receive $33.75 ($11.25 per month) and annually $1982.

When will you receive the $367.23 ACFB November 2024 Payment?

As we have mentioned the ACFB payments are processed quarterly, the first payment of the July 2024 to June 2025 annual period is made in August 2024, now the second installment will be made in November, followed by February 2025 and May 2025. 

According to the CRA payment schedule, the ACFB recipients can expect the payment in their account on 27 November 2024, while receiving the CCB payment on 20 November 2024. The recipients who qualify for both the components of ACFB will receive the maximum payment based on their income and number of children. 

What makes you eligible for the ACFB? 

The Albertans who meet the below eligibility criteria can claim the ACFB and receive financial assistance based on their income and number of children:

  • You must be a permanent Alberta resident
  • The child or more children for whom you are claiming the benefit must be at least under 18.
  • You have filed the tax return timely
  • You fulfill the family income criteria, that is, between $27, 024. 
  • You can receive ACFB when you receive Income support/ Alberta Child care subsidy. AISH (Assured Income for Severely Handicapped).
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How does net income affect your ACFB payments?

As we have mentioned the income threshold for the ACFB payments is $27,024, however, if the income exceeds the threshold, your ACFB payment will be reduced by every dollar. According to the CRA, if the adjusted family income stays between $27,024 and $45,285, the residents would receive the half payment under the benefit. 

However, if the net income exceeds the $45,285 mark, you will become ineligible to receive the ACFB benefit from the CRA. 

How to claim the ACFB Payment?

The Albertans who wish to receive the ACFB financial assistance from the Alberta provincial government administered under the CRA do not have to separately file the ACFB application when they have filed their income tax return and qualified for the CCB. 

The Albertans who have filed their income tax return and qualified for the Canada Child Benefit will be automatically considered for the Alberta Child and Family Benefit based on their income tax return details. 

However, if you still need to file for the ACFB due to any reason and meet the eligibility requirement, you should apply for the Canada Child Benefit first and when you get the approval for the CCB, the CRA will automatically consider you for the ACFB benefits. The CCB application can be made through the birth registration when the child is born, by mail, or online through My Account. 

Changes you should report to continue receiving the benefit

As the ACFB benefit depends on the number of children and family net income, the beneficiaries should report any change that affects any factor to the authority to continue recovering the payment. Here are the changes that you must report to the authority:

  • When you get the responsibility of the child and he comes to live with you 
  • When a new child is born in the family, it may add more benefits for you.
  • When you and your family shift from Alberta
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The CRA assesses the benefits eligibility regularly to ensure if the people receive less benefit than they were eligible for, the agency will process the additional payment or overlook the overpayment. 

The government understands the family’s issue with the rising cost of raising a child hence this additional province help with the Canada Child Benefit provides financial relief to the families. The Alberta families will receive the $367.23 ACFB November payment on 27 November 2024. 

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