One-time top-up to the Canada Housing Benefit

With the rising cost of living we have been experiencing across our province, I am happy to share that the Canada Revenue Agency will be accepting applications for a one-time payment of $500 to help low-income renters with the cost of renting.

Applications open on December 12, 2022.

You may be eligible for a tax-free one-time payment of $500 if your income and the amount that you pay on rent qualify. The CRA will administer the one-time payment.

Who will be able to apply:

You may be eligible to apply if all of the following are true:

  • You were born on or before December 1, 2007 (you are at least 15 years old on December 1, 2022)
  • Your principal residence is in Canada on December 1, 2022
  • You were a resident of Canada in 2022 for tax purposes
  • You and your spouse or common-law partner have filed your 2021 income tax return or statement of income
  • In 2021, you had an adjusted net income of $35,000 or less for families or $20,000 or less for individuals
  • In 2022, you paid at least 30% of your 2021 adjusted net income on rent for your own principal residence in Canada

Get ready to apply:

  • Complete any steps you are missing so you’re ready to apply when applications open.
  • Confirm you have filed your 2021 income taxes:
  • Filing your income tax return is required to apply for this benefit.
  • If you have a spouse or common-law partner, they also must ensure their 2021 taxes are filed.
  • Gather your rent information

Gather all of the following:

  •  How much rent you paid in the 2022 calendar year for your principal residence
  •  Address(es) of your principal residences in 2022
  •  Name and contact information of the persons to whom the rent was paid

Confirm you have access to your CRA My Account:

Canada Revenue Agency’s online application (CRA My Account) will be the fastest way to apply for this benefit.

If you do not have a CRA Account complete the steps to create an account here.

**You can apply for the one-time top-up to the Canada Housing Benefit through My Account without waiting for a security code.

Set up direct deposit:

  • Direct deposit is the fastest way to get payment for this benefit.
  • Is your direct deposit information up to date with the CRA?
  • You can set up or change your direct deposit information within your personal profile in CRA My Account
  • If you prefer to receive payment by cheque, your mailing address must be up to date: Confirm it’s up to date in your CRA My Account under your personal profile or by phone: Call 1-800-959-8281

For more information check out the source link. One-time top-up to the Canada Housing Benefit – Canada.ca