The Feds Have Announced A New 'Top Up' Of $500 For The Canada Housing Benefit To Help Renters

Justin Trudeau has announced a handful of new benefits that are going to be aiding Canadians in the current economy.

Speaking from the Liberal caucus retreat taking place in St. Andrews, New Brunswick, the prime minister announced that there will be an increase to the housing benefit aimed at helping renters.

"The federal government will also provide a $500 top up to the Canada Housing Benefit program," said Trudeau.

"People who currently receive hundreds of dollars in housing benefits each month through the program we introduce and co-fund with provinces and territories can also apply for this additional support," the prime minister said.

"This federal top-up would reach hundreds of thousands of low-income renters, with around 1.8 million Canadians eligible for it," continued Trudeau.

The Canada Housing Benefit is a benefit that was introduced to Canada and is administered through the provinces to help lower-income Canadians better afford rent.

Each province has its own system for accessing the money, but, per the Prime Minister's Office, families who qualify for the federal benefit must have an income of less than $35,000. Individuals making less than $20,000 also qualify.

Not only that, but they must also spend 30% or more of their income on rent.

It's also a benefit that you don't automatically qualify for, so if you want a chance at getting some extra money, you'll have to check out your provincial or territorial government.

This wasn't the only benefit brought up by Trudeau in the announcement. He officially announced that Canada's national dental care program has officially been set in motion, with the first stages to be in place by the end of 2023

Along with that, he announced that low and middle-income Canadians will also see their GST rebates double for the next six months.

This, for example, could mean over $400 more for families with two children for the next rebate cheque coming October 5.

This article's cover image was used for illustrative purposes only.