The federal government is offering a one-time, tax-free $500 top-up to the Canada Housing Benefit program aimed at supporting an estimated 1.8 million low-income renters, including students
It’s become harder to find a place to call home in Canada, as the cost of housing has soared in recent years because of interest rates and rising immigration. Starting this week, low-income Canadians will be able to apply for a one-time, tax-free $500 government top-up to the Canada Housing Benefit program aimed at supporting an estimated 1.8 million renters, including students.
To qualify for the top-up benefit, Canadians must be at least 15 years of age and have paid rent in 2022 that was equal to at least 30 per cent of their net income in 2021. In order to be eligible, families must also have a net income of $35,000 or less, while eligible individuals are capped at a net income of $20,000 or less. Applicants will also need to have filed their 2021 tax returns and be able to prove that they are paying their own rent.
Before applying, the Department of Finance has asked that applicants ensure they have access to their CRA accounts and have set up direct deposit with the agency.Major cities in Canada have been gripped by a deepening national crisis as the cost of housing soars from province to province, and increasing cost of living is making affordable housing even less of a reality for many Canadians, especially those living in big cities such as Toronto and Vancouver.
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