Low-income renters in Canada have less than six weeks left to apply for the one-time $500 .
The government of Canada encourages who have yet to apply for this non-taxable and non-reportable benefit, to submit their application ahead of March 31.
The federal government launched the benefit on Dec. 12 to 鈥渁ssist鈥� lower-income individuals and families 鈥渨ho struggle with the cost of rent.鈥�
So far, more than 500,000 Canadians have applied and 1.2 million renters have yet to apply to receive the benefit.
WHO IS ELIGIBLE?
In order to be eligible, applicants must have an adjusted net income in 2021 of $35,000 or less for families or $20,000 or less for individuals.
The applicants must also pay at least 30 per cent of their adjusted family net income towards rent in the 2022 calendar year.
Other eligibility criteria for the one-time $500 benefit includes:
- You must be at least 15 years old as of Dec. 1, 2022;
- Your principal residence was in Canada as of Dec.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.
The government says the one-time $500 Canada Housing Benefit is separate from the monthly Canada Housing Benefit and will not affect other federal income-tested benefits including the Canada Workers Benefit (CWB), the Canada Child Benefit (CCB), the Goods and Services Tax (GST) Credit, and the Guaranteed Income Supplement (GIS).
Qualified applicants can apply for the one-time top-up through their Canada Revenue Agency .
