Canada Housing Benefit was an initiative by the government of Canada to provide some relief from housing expenses. Rising inflation is the main reason for financial stress on a lot of people across the world. Due to this, many people across Canada are not able to purchase houses and afford housing rents.
That’s why the Government of Canada decided to initiate a housing benefit program to support housing expenses of the needy people. It is a one-time payment of $500 given to those people who are in need in Canada.
$500 Canada Housing Benefit 2024 For Students
This one-time payment benefit was designed with the aim to support low and moderate income people. This benefit is a provincially administered program available in provinces like Alberta, Ontario, Manitoba and others. People who are planning to purchase a new house or want to renovate their old houses can apply for this benefit.
It has a certain eligibility criteria that every individual applying for the program needs to qualify. If you are planning to appeal for the Canada Housing Benefit, then continue reading the below article. The article provides comprehensive information about this benefit program including payment dates, eligibility criteria and claiming process.
Highlights of Canada Housing Benefit 2024
| Title | Canada Housing Benefit 2024 |
| Country | Canada |
| Authorization | Canada Revenue Agency (CRA) |
| Payment Amount | $500 |
| Age Requirement | At least 15 years old |
| Recipients | Citizens and residents of Canada |
| Income Criteria | Individuals applying for the benefit – $20,000 or lessCouples or partners applying for the benefit- $35,000 or less |
| Post Category | Finance |
| Official Website | https://www.canada.ca/ |
Eligibility Criteria
Individuals who are planning to apply for the housing benefit in 2024 must meet this below criteria to become eligible for the program.
- Age limit- People who are appealing for the benefit must be at least 15 years old or above.
- Residency- They have citizenship of Canada or a resident of any province.
- Tax Return- They must have filed their income tax return in 2022.
- Income Criteria- If an individual is applying for the benefit, then their net income must be less than or equal to $20,000. If a couple or common-law partners are applying for the benefit, then their income must be equal to less than $35,000.
The government of Canada has set this income criteria to ensure that the people who are really in need will be able to take financial support of the housing benefit.
Please note that including these above mentioned points, people who have paid at least 30% of their AFNI during tax return in 2022 are only eligible to claim the benefit.
Payment Dates
Each province and territory in Canada decides its own payment date of the benefit. Applicants can go to the MY CRA account on the official website of the Canadian Government and apply through an application form available on the website.
Applicants can also check the exact dates on the official portal, i.e., Canada.ca.
There are two ways through which you appeal for the benefit.
- Direct deposit- You can get your payment directly deposited in your bank account. For that, you need to apply online through your CRA account.
- Through cheque- If you want it via cheque then it will be emailed to you on your email address.
Direct deposit takes 5-7 business days for the payment to be deposited in your account. A cheque takes 10-12 business days to arrive.
Application Process
- The application process involves filling out an application form through MY CRA account.
- Include all the essential details in the form and attach documents, if any.
- After submitting the form, the CRA will verify your details and after successful verification, your application will be processed.
- CRA has the authority to reject the application if anyone has filled wrong or incorrect information in the form or any essential document is missing.
- If you want assistance in filling the form then you can contact the support agency of CRA. They will assist you in filling the form on the phone. The helpline number of the CRA is- 1-800-282-8079.
Please check the eligibility criteria of the benefit before filling the form and apply only if you are eligible for it.
| Home Page | https://www.easthamptonchamber.com/ |
FAQs about Canada Housing Benefit
People who are permanent residents of any province and their net income lies in the income threshold are the qualifiers of the program. A qualifier must be at least 15 years old.
The government of Canada provides $500 as the financial assistance for the expenses of houses.
Yes, the housing benefit payment can cover your whole rent.
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