#1
Ok my friend just got an $800 tax credit from his rent or something. But I'm pretty sure that as a full-time post secondary student (with no dependents) who makes less than the tax bracket ( I think it's $10,000) you cannot make such claims. Basically he's getting some money back from his rent, which was paid entirely with OSAP (government student loan).

Is this a false claim? I heard it's pretty easy to lie on your taxes, but if you get audited you're in trouble. BTW this is for Ontario, Canada.
#3
Lucky bastard. I want some moneyz
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#6
I would take it. use it and walk away from it. if it bites him in the ass later on, tell him to use it for something worth while when he pays back the government when the audit his ass
#7
It's not tax fraud at all. Your rent is tax deductible no matter what money you use to pay it. If you have rent receipts you can claim rent on your taxes.
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#8
Quote by enceps
It's not tax fraud at all. Your rent is tax deductible no matter what money you use to pay it. If you have rent receipts you can claim rent on your taxes.


I thought students cannot make this claim, since a lot of our tuition is covered by the government or something. Can you link me the info where it says that? thanks
#9
Quote by Steel8909
I thought students cannot make this claim, since a lot of our tuition is covered by the government or something. Can you link me the info where it says that? thanks


I've claimed rent every year as a student. I've been audited, mailed them my receipts, and that was the end of it. Your friend is fine.

EDIT: Although $800 from rent alone in one year seems like quite a bit. Are you sure that wasn't his whole tax return?
Last edited by i_am_teh_walrus at Mar 26, 2011,
#10
Quote by Steel8909
I thought students cannot make this claim, since a lot of our tuition is covered by the government or something. Can you link me the info where it says that? thanks



uhm dude since we are students we get MORE tax returns and there is more flexibility with claims,

we practically get ALL of our income tax returned, you have it backwards
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#12
Quote by JimmyBanks6
uhm dude since we are students we get MORE tax returns and there is more flexibility with claims,

we practically get ALL of our income tax returned, you have it backwards


I know we practically don't get taxed, but I was under the impression that we couldn't get tax credits.
#13
We can get tax credits. We get basically everything that is taken out of us throughout the year in income tax, plus a few other goodies if you're eligible (I think your friend falls under this). I'm getting a $550 return from my last job.