The Government of Canada has initiated a one-time $500 rent assistance for low-income renters. Due to inflation, there is an increase in the price of rents, which has created a financial tension amongst low-income renters. The main aim of this rent assistance is to financially support low-income tenants.
$500 Rent Assistance In Canada
| Article Name | $500 Rent Assistance |
| Country | Canada |
| Beneficiaries | Low-income tenants |
| Amount | $500 |
| Payment type | One-time |
| Category | Finance |
| Official Website | Canada.ca |
Eligibility Criteria
- A resident of Canada can only register for the claim.
- Tenants must be older than 15 years.
- Tenants must have filed their previous year’s tax return.
- As an individual your income should be less than $20,000 and your families should be less than $35,000.
- The amount you paid for rent in 2022 must be at least 30% of your income.
How to register for the Rent Assistance claim?
- To apply for the $500 Rent Assistance, go to CRA My Account or directly contact the Canada Revenue Agency (CRA).
NOTE: The helpline number of CRA is 1-800-282-8079.
- Provide all the mandatory and crucial details in the application or to CRA.
- You need to mention the details of your landlord. Also, the amount you have paid for rent in a year.
After successful submission of your application, you will receive your payment within 5 to 12 business days.
Quick Facts about $500 Rent Assistance
- $500 Rent Assistance is a one-time payment given to low-income tenants.
- After successfully applying for the $500 Rent Assistance, tenants will receive the amount within 5 to 12 business days.
- There are two ways through which you can receive your payment:
1) Direct deposit.
2) Through cheque via email.
- Direct deposits are faster and to receive payment through direct deposit, tenants need to submit their updated bank details to CRA.
- If you want to receive your payment through email via cheque, tenants need to submit their email address to the Canada Revenue Agency.
- Payments through cheque might take more days to reach. So, it is advisable to receive the payment through direct deposit without any delay.
| Home Page | https://www.easthamptonchamber.com/ |
FAQs for $500 Rent Assistance In Canada
March 31st, 2023 is the last day of applying for the claim.
The helpline number of the Canada Revenue Agency is 1-800-282-8079.
It is a one-time payment type. The payment amount is sent to the beneficiaries’ bank accounts within 5 to 12 business days.
A tenant must be older than 15 years, to apply for the claim.
If you are an individual then your income must be less than $20,000. Your income must be less than $35,000 if you’re a family person.
Conclusion
This initiative towards financially supporting the low-income tenants has played a very crucial role for the beneficiaries. People who come under the eligibility criteria can get a bit of relief in the housing rents. But, advocates said it’s a short-lived relief.
Riya Claire is the Editor-in-Chief of the East Hampton Chamber Portal. She holds a degree in Mass Communication, an MBA in Finance, and a diploma in HR, making her a versatile professional for an online portal