Canadian Renters Have Less Than 2 Weeks To Get $500 From The Canada Housing Benefit
Get ready, renters! The deadline to apply for the Canada Housing Benefit (CHB) one-time top-up is fast approaching, which means Canadian renters are running out of time to claim their $500 payment.
Eligible low-income renters who have not received the payment have less than six weeks left to apply, as the Canada Housing Benefit top-up has a deadline of March 31, 2023.
In a recent notice, the Canada Mortgage and Housing Corporation confirmed that over half a million people have already applied for the support.
However, with 1.8 million renters believed to be eligible for the money, this means over 1 million people could still claim $500.
If this is you, don't wait around, as applications will not be accepted after Friday, March 31.
Here's everything you need to know about the Canada Housing Benefit one-time top-up and how to apply for the payment.
What is the Canada Housing Benefit top-up?
\u201cDid you know the Government of Canada has introduced a one-time payment to help low-income renters? Here\u2019s what you need to know to be ready to apply: https://t.co/4F3iAnjHfP #NationalHousingDay\u201d— Canada Revenue Agency (@Canada Revenue Agency) 1669148111
Announced in August 2022, the one-time top-up to the Canada Housing Benefit aims to support low-income renters — those most exposed to the effects of inflation — with the cost of housing.
You don't need to receive the Canada Housing Benefit usually to get the $500 top-up payment, and you may be eligible if your income and rent costs qualify.
The one-time payment is administered by the federal government via the Canada Revenue Agency (CRA).
Who is eligible for the Canada Housing Benefit top-up?
\u201cThink you might be eligible for the one-time top-up to the Canada Housing Benefit? Make sure you\u2019ve filed your 2021 tax return! Learn more about eligibility and how to apply: https://t.co/hYfVAWXBS9 #CdnTax\u201d— Canada Revenue Agency (@Canada Revenue Agency) 1676924113
To be eligible for the Canada Housing Benefit top-up, you must be at least 15 years old, and your primary rental residence must have been in Canada on December 1, 2022.
To confirm your eligibility, you must also have been a resident of Canada for tax purposes in 2022 and must have filed a 2021 income tax return or statement of income.
If you have a spouse or common-law partner, they must also have filed a tax return or statement of income for the same year.
What's more, your adjusted net income in 2021 must have been $35,000 or less for families, or $20,000 or less for individuals.
You must have also paid at least 30% of your adjusted family net income on rent in the 2022 calendar year.
You do not need to receive other housing benefits – such as the Canada Housing Benefit – to qualify for the one-time payment.
Find out more
How to apply
\u201c1.8 million people struggling to pay #rent will have access to a one-time payment.\n\nWe all know that safe and affordable #housing is important. Share this post to make sure everyone gets the support they need: https://t.co/fWO6XaFdCf\n\n@CanRevAgency\u201d— CMHC (@CMHC) 1676901690
The Canada Housing Benefit top-up is not distributed automatically, which means you have to apply for it if you think you qualify.
Applications opened in December 2022, with all forms available to fill in online.
The deadline to apply is March 31, 2023, and all applications must be received before then.
Before opening the application, ensure your 2021 income taxes have been filed, gather all the necessary details related to your rent (addresses of residences, total amount paid, contact details of your landlord), and have your direct deposit information ready.
Finally, make sure you've set up My Account on the CRA's website and have it up to date with all of your information – including your bank details.
This article's cover image was used for illustrative purposes only.
