Can Rent Paid By A Student For Residence Be Claimed On The Personal Tax Return?
No, the rental expense cannot be claimed as either a tax deduction or a tax credit. However, the student may be eligible for the Ontario Energy and Property Tax Credit if applicable criteria are met. This benefit is generally paid to low-to-moderate-income individuals of at least 18 years of age for paying rent or property tax. Ensure supporting documentation such as lease agreements and/or rental receipts are kept in case they are requested by the CRA.