There's been some confusion about what the increase to the Universal Child Care Benefit (U.C.C.B.) will mean, come tax time.  The U.C.C.B. increase replaces the former Tax Credit, essentially putting money in the pockets of families throughout the year, instead of once a year at tax time.
    
Under the old method, comparing to 2014 figures, parents would have received a tax credit of $338 per child.  

Under the new system, parents with children under the age of 6 will see their monthly payment increase from $100 to $160 per month for each child.  The enhanced benefit also includes payments of $60 per month for each children between the ages of 6 and 17.  

Money received through the U.C.C.B. is taxable.  Kenton Doerksen, Partner at Gislason Targownik Peters in Winkler says as far as how much you'll pay in taxes is a bit of a moving target, and will depend on what tax bracket you're in.  In Manitoba, if you're in the highest tax bracket you're paying 46.4%.

"It's not that big of a difference if you're in a the highest bracket," said Doerksen.  "It is a fair bit ahead if you are in a lower tax bracket though.  If you're in a mid-level tax bracket paying 35%, you're $910 ahead under this system, if you have children under 6, and $130 ahead if you have children 6 to 17."

Keeping in mind the U.C.C.B. is taxable, Doerksen suggests looking to put away around a third of what you receive to pay on taxes at the end of the year.  Either that, or it will reduce any tax refund you'd be getting, accordingly.

Doerksen recommends anyone with questions regarding the changes and what they mean, to talk to a tax professional.