Hi,
My son was 24 and a full time student in 2021. He rented an apartment near his school (over 100km from home). He wasn't employed in 2021 and his only income were RESP, OSAP and some bursaries.
Does the "Ontario Renters Tax Credit" apply to him? I'm using Premier Desktop and seems that the amount I enter has no effect whatsoever on his taxes due. Is this input just for info collection by the Province?
Thank you!
For information about claiming rent paid, you can visit our TurboTax article "What Is the Ontario Trillium Benefit?
This program combines 1. Ontario Sales Tax, 2. Ontario Energy and Property Tax Credit (Rent, energy, property tax) and 3. Northern Energy Credit (for taxpayers living in Northern Ontario) This benefit does not affect the tax return. It is paid out separately just like the GST and CTB credit. You can view the estimated amount by selecting Bottom line (tax summaries) under REVIEW (found in the left menu of your return using Easy Steps)
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Darshil18: Thank you very much for clarifying this issue.
May I ask you the following re my Premier Desktop software:
I've downloaded all my T-slips (T3, T5, T5008) from "my CRA account". I found two issues that bother me:
(a) all amounts are downloaded as-is, meaning USD values aren't converted to CAD (in fact I see no entry in any slip that indicates it's in USD). Am I missing something? Do I need to proceed with the process until this issue is resolved, or need I do it manually (at what stage?)?
b) all slips that are joint with my wife appear as 100% mine (after the download) and I have to go slip by slip to fix it (while there is a specific entry when a slip is joined). Here too - am I missing something?
Thanks for you help.