The Canadian Government Announces the One-Time Canada Housing Benefit Top-Up

The Canada Revenue Agency announced the one-time top-up to the Canadian Housing Benefit (CBH) aimed at helping low income renters with the cost of renting.

The new development allows you to be “eligible for a tax-free one-time payment of $500 if your income and the amount that you pay on rent qualify,” said the Canada Revenue Agency. The one-time rental top-up is for individuals who paid rent in 2022 that is at least 30% of their net family income, and who have a net family income of $35,000 or less for a family, or $20,000 or less for an individual.

It also requires the family/individual to have paid their income taxes for 2021. The CRA said to apply, you must also gather your rent information such as addresses of any principal residences in Canada in 2022, total rent paid in 2022 as well as name and contact information of the persons to whom the rent was paid.

The CRA oversees this one-time payment and applications are open until Friday, March 31, 2023.

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