Next Canada Child Benefit payment is this week: What families need to know

A family is shown in this stock image. (Pexels)

The next payment for the Canada Child Benefit (CCB) is set to land in bank accounts this Friday, according to the Canada Revenue Agency.

The Canada Child Benefit is a tax-free payment made to eligible families to help with the cost of living when raising children under 18. For most who qualify, it's paid out monthly.

Following this week's payment, families can expect the remaining payouts for this year on Nov. 20 and Dec. 13.

The CRA says that families who qualify for the benefit will not receive a monthly payment if their total amount for the year is less than $240. One lump sum payment with the July instalment would have been received instead.

According to the CRA’s website, to qualify for the CCB each month, families must live with a child under 18, be primarily responsible for the care of the child and be a resident of Canada.

The CRA outlines the conditions for citizenship status that individuals or their spouses or common-law partners must meet.

An increase in the CCB earlier this year means eligible families could be pocketing more.

The actual amount a person or family receives depends on factors including shared custody, related provincial and territorial benefits and whether the child or children have a disability.

Parents and caregivers can use the CRA’s child and family benefits calculator to get an estimate of the amount they're entitled to.