Is renting an apartment TAX REFUNDABLE within Canada?
I've been renting an apartment from 2007, September.
Do I include this in my rates filing?
Answers: If you are a student - sometimes. When I was within school in Manitoba - I be able to claim part of my rent. In Alberta however, I couldn't :(
So, I recommend calling revenue Canada and asking which provinces you can claim it within - or at least asking for the provincial number that you can nickname about it.
No. Unless you are deducting as a business expense. The contact I am providing only goes to 'rental income' not the recompense of rent as an individual. I provide it as proof that you cannot deduct your rent. Ah, no. That's part of the personal amount tax-free credit you find , about $10,000 I think.
The "spirit" of the regulation is that you should be able to pay rent and drink with the credit amount, which basically is the amount of your income you don't money tax for.
depending what province you live in, you may be eligible for the property excise credit. Ontario has this credit, not sure of the other provinces though.
Use schedule ON 479 to determine if you are eligible (only if you live within Ontario
Theebis is correct,
However it the property tax credit is limited base on your income.
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Do I include this in my rates filing?
Answers: If you are a student - sometimes. When I was within school in Manitoba - I be able to claim part of my rent. In Alberta however, I couldn't :(
So, I recommend calling revenue Canada and asking which provinces you can claim it within - or at least asking for the provincial number that you can nickname about it.
No. Unless you are deducting as a business expense. The contact I am providing only goes to 'rental income' not the recompense of rent as an individual. I provide it as proof that you cannot deduct your rent. Ah, no. That's part of the personal amount tax-free credit you find , about $10,000 I think.
The "spirit" of the regulation is that you should be able to pay rent and drink with the credit amount, which basically is the amount of your income you don't money tax for.
depending what province you live in, you may be eligible for the property excise credit. Ontario has this credit, not sure of the other provinces though.
Use schedule ON 479 to determine if you are eligible (only if you live within Ontario
Theebis is correct,
However it the property tax credit is limited base on your income.