22 June 2024

Money for your kids

As soon as the school year ends, you have to think about the next one. Are you the type of enthusiastic parent that plans ahead and goes shopping on 2 July? We understand! How can you resist buying those coloured binders and erasers?

At Retraite Québec, we know that finding the right duotang (with pockets, two fasteners, not clear-blue not too dark, hard plastic) can create a lot of anxiety for parents. That is why, as soon as July arrives, we deposit an amount in your bank account (did you sign up for direct deposit?) to help you pay for the school supplies of your future geniuses. The supplement is paid at the same time as Family Allowance.

The amount, which is the same for each child aged 4 to 16 on 30 September for the school year concerned, is not taxable and is indexed each year. For 2024-2025, the amount is $121 per child. You are welcome!

No action is required on your part to receive the supplement. One thing less to do on your list! But be careful: it is paid automatically to parents who are already receiving Family Allowance. Therefore, it is important that each parent file his or her income tax return even if there is no income to report.

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