Recently I signed up for Ontario works because my EI finished up. I am eligible for the living expenses and shelter money. The shelter money goes straight to my parents.
Question is obviously when I do my taxes I will be writing I paid 'X' amount per month for a total of 'B' amount for the taxation year. So in regards to my parents. They are wondering if they have to claim that as extra income and will that make things difficult for them since they are renewing their mortgage this year.
You will receive a T5007 slip for your Ontario Works income, which is what you will enter on your taxes. Your parents will not have to enter anything, unless they are charging you the same amount of rent that they would if they were renting to someone else for profit.
thank you so much, no the money they are receiving are actually helping them with housing expenses and bills that they cover for my brother and I. definitely not making a profit, its just helping us make ends meet.
You have clicked a link to a site outside of the TurboTax Community. By clicking "Continue", you will leave the Community and be taken to that site instead.
Sign In
Canada (English)
EN
