The Canada Housing Benefits program opens today, aimed at supporting low earning Canadians with a one-time $500 payment towards their rent.
“I think the most important thing is to understand there are Canadians out there who are really hurting … what we’re doing with these specific measures is targeting those most vulnerable, those most hard-hit by increases in inflation,” Prime Minister Justin Trudeau said of the plan.
Rental costs have constantly increased throughout the year, with real estate platform Rentals.ca reporting an annual increase of 11.8% across the country in October. Homelessness has also become a serious problem in many cities.
To be eligible for the Canada Housing Benefit payments, you must be a Canadian citizen above the age of 15, and your rent in 2022 must be a minimum of 30% of your 2021 net income.
For individuals, they must have a maximum net income of $20,000 while families must have a maximum net income $35,000.
About 1.8 million people are expected to benefit from the scheme. Eligible candidates for the Canada Housing Benefits can apply on the Federal Government website here.
Successful applications would be paid out by the Canadian Revenue Agency.