Students In Canada Can Get Money From The Canada Housing Benefit To Help Pay For Rent
It's a tax-free top-up payment from the federal government!
Students sitting on the ground at the University of Manitoba campus. Right: People walking in front of a building at the University of Alberta.
There is a one-time top-up to the Canada Housing Benefit (CHB) that's available for students in Canada to help pay for rent.
If you're a post-secondary student looking to get financial help from the government while you get your degree or diploma, here's what you need to know about this federal benefit.
What is the Canada Housing Benefit top-up?
The one-time top-up to the CHB offered by the federal government is meant to help low-income renters with the cost of their rent payments.
You don't need to actually get the CHB, which is co-funded and given out by the provinces and territories, or any other housing benefits to receive this top-up.
Although, if you do get the CHB from your province or territory, you can get the one-time payment to help with rent as well.
Who is eligible for the Canada Housing Benefit top-up?
To be eligible for the one-time top-up to the CHB you need to meet all of the following criteria:
- You were born on or before December 1, 2007, and at least 15 years old on December 1, 2022
- Your principal residence was in Canada on December 1, 2022
- You were a resident of Canada in 2022 for tax purposes
- You have filed your 2021 income tax return or statement of income
- In 2021, you had an adjusted family net income of $35,000 or less for families, $20,000 or less for individuals
- In 2022, the eligible rent you paid was paid in the 2022 calendar year, paid for any of your qualifying principal residences in 2022 and equal to at least 30% of your 2021 adjusted family net income
If you don't know what your adjusted family net income is or if you paid at least 30% of your net income in rent, the federal government has an online tool to help you figure that out.
How much is the Canada Housing Benefit top-up?
If you're eligible to receive this benefit, the one-time top-up of the CHB is $500.
Also, the payment is tax-free which means don't need to report it on your income tax return.
How do I apply for the Canada Housing Benefit top-up?
To apply for the CHB top-up, you can submit an application online or over the phone.
Applying online for this one-time payment through CRA's My Account is the fastest way to get the payment, according to the government. It takes five business days for the direct deposit to come through and 10 business days to receive a cheque by mail.
If you can't apply through CRA's My Account or My Service Canada Account, you can fill out an online application form and it'll take between six and 11 business days to get the money.
When applying over the phone at 1-800-282-8079, the one-time top-up will get to you between seven and 12 business days.
The last day you can apply for the CHB top-up is Friday, March 31, 2023, at 11:59 p.m. ET.
What other federal benefits can students get in 2023?
Post-secondary students in Canada can get more money from the federal government.
That includes a loan repayment tax credit, the climate action incentive payment, doubled student grants and the Canada Learning Bond.
This article's cover image was used for illustrative purposes only.
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