Canada Housing Benefits for Seniors: $500 One-Time Payment
Housing costs are rising in Canada, making it tough for many to pay rent. The Canadian government is offering a one-time $500 payment to help low-income renters.
$500 One-Time Payment
- Purpose: To help low-income families and individuals with rent.
- Introduced: December 12, 2022.
- Beneficiaries: Over 600,000 tenants have received this payment so far.
- Tax-Free: This payment is tax-free and doesn’t impact other federal benefits like the Canada Child Benefit, the Canada Workers Benefit, or the Goods and Services Tax Credit.
Eligibility
Income Tax: Must have filed 2021 income tax returns.
Rent: Paid at least 30% of 2021 family net income on rent in 2022.
Income Limits:
- Families: $35,000 or less.
- Individuals: $20,000 or less.
![Canada’s $500 Housing Benefit for Seniors](https://ibbaci.org/wp-content/uploads/2024/06/Canadas-500-Housing-Benefit-for-Seniors.jpeg)
How to Claim Canada Housing Benefits?
Managed by: Canada Revenue Agency (CRA).
How to Apply: Apply online on the federal government website or call 1-800-282-8079 if unable to apply online.
Information Needed: Address, landlord’s contact, and rent paid in 2022.
Processing Time:
- Direct deposit: 5-7 business days.
- Check: 10-12 business days.
Documentation: Keep receipts or supporting documents for six years in case the CRA requests proof.
Additional Information
- This payment is different from the regular monthly Canada Housing Benefit, which is co-funded and managed by provinces and territories.
- This program has a budget of $4 million to support approximately 4.2 million Canadian families.
For more information, visit the Canada Revenue Agency’s official website.