I am on ODSP and pay my parents 500 rent. Do they need to report this as rental Income? I am contributing to utilities, basic upkeep, groceries, gas, etc so no profit
I am on ODSP and pay my parents 500 rent. Do they need to report this as rental Income? I am contributing to utilities, basic upkeep, groceries, gas, etc so no profit
I don't think 500 is below fair market value but they are not looking to make a profit nor will they be. It also covers damages that I have done due to my disability so does it need to be reported?
I am on ODSP and pay my parents 500 rent. Do they need to report this as rental Income? I am contributing to utilities, basic upkeep, groceries, gas, etc so no profit
If it truly is no profit...then no. However, bear in mind you will not be able to report it as rent paid on your own return, thus affecting your Trillium benefit.
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