$500 Canada Housing Benefits Coming in June: The government of Canada offers a one-time top-up to the Canada Housing Benefit to the eligible citizens of the country. The $500 Canada Housing Benefits Coming in June for beneficiaries who come under the category of low-income renters with the cost of renting. The officials will provide the payment only once. So, no individual can apply for the benefits twice.
Canada Revenue Agency is responsible for administering the One-time top-up to the Canada Housing Benefit. The authority started the program in 2022. There is a high chance that the program will be conducted again for the 2024 tax year. Check Out some latest information regarding the Canada Housing Benefits such as eligibility criteria, payment date and more.
$500 Canada Housing Benefits
The offered amount is tax-free so beneficiaries will not have to worry about getting the reduced amount. Previously, the officials provided the CRA Housing Benefit in 2023 whose application process was conducted from 12th December 2022 onwards. Interested individuals can get the application form to receive the same benefit from the official website of the Canada Revenue Agency.
Individuals looking for the benefit amount are informed that the officials are providing a total of CAD 500 Canada Housing Benefit to the eligible beneficiaries. No official updates have been made by the CRA officials or the federal government which states information about the continuance of the program.
Eligibility Criteria to get the One-time top-up to the Canada Housing Benefit
In the following section, individuals will get information regarding the eligibility criteria which must be fulfilled to get $500 Canada Housing Benefits. The benefits will not be provided to individuals to people who are not fulfilling the eligibility criteria. The following is the detailed eligibility criteria:
| Residency | Participants should be principal residents of Canada during the application process. Applicants must be residents of Canada for the respective years’ tax purposes. |
| Tax | Individuals must have filed their income tax return or statement of income by the respective deadline. The spouse or common-law partner of the applicants must have also filed their income tax return or statement of income by the mentioned deadline. |
| Net Income | The adjusted net income of the participants should be: $35,000 or less for families $20,000 or less for individuals |
| Rent | The 2024 eligible rent that an individual paid was: paid in the 2024 calendar year paid for any of their qualifying principal residences in 2024 equal to a minimum of 30% of their 2024 adjusted family net income |
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How to apply for the $500 Canada Housing Benefits?
The following section will provide information regarding the application process which must be used to claim the $500 Canada Housing Benefits. Below is the step-by-step guide to apply easily:
- The first and foremost step is to search the website link of the government of Canada i.e., https://www.canada.ca/
- Secondly, the website’s home page will open on the screen.
- After that, go to the Services section section and go to the Taxes option.
- Now, you must click the Tax credits and benefits for individuals and get access to the application form.
- Now, enter the necessary details and submit the application form.
- Once, the application is accepted for review, individuals will have to provide the necessary documents within 30 days from the date on which the letter was received.
- The documents which need to be uploaded are the rent receipts for each month in which you paid rent or a letter from your landlord through mail, fax or online method.
Frequently Asked Questions
What is the average time to get the $500 Canada Housing Benefit Payment?
Through direct deposit, the payment takes around 5 to 7 business days to reflect in the beneficiary’s account. Whereas, cheques through mail will be released in about 10 to 12 business days.
Will the $500 Canada Housing Benefit affect the taxes?
The offered payment by the officials is not taxable and will not affect the taxes. This means individuals will not have to report the one-time payment on their income tax return.
How can I submit the documents to claim the CRA Housing Benefit?
Individuals will get three options to submit the necessary document for claiming the housing benefits i.e., Online: by logging into the CRA account, through fax and mail. Individuals using offline methods should send the document early as this process takes time to deliver.
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