I live in my parents house in BC and run a business out of it. I pay a portion of the mortgage. Can I claim that "rent" on my business tax expenses?

Forum|Forum|2 years ago
February 20, 2024
1 reply
0 views

I am wondering mostly because I believe its a "cost sharing agreement" and am not sure if I can claim the rent if they aren't claiming it as income.

GHarpe

Claiming the expense on your business requires availability of receipts from your parents.

Thank you for choosing TurboTax.

kylelaursenAuthor

Would them producing a receipt change it from being a cost sharing agreement in any way?

GHarpe

As per claiming a business expense while in a cost sharing agreement, you should contact the Canada Revenue Agency to clarify this at 1-800-959-8281.

Thank you for choosing TurboTax.

I live in my parents house in BC and run a business out of it. I pay a portion of the mortgage. Can I claim that "rent" on my business tax expenses?

1 reply

Unlock tailored help options in your account

Get answers to all your tax questions

Vos impôts avec un expert

Faites vos impôts vous-même

Situations fiscales

Ressources

Experts at your fingertips

Do it yourself

Business taxes

Tax situations

Resources

Unlock tailored help options in your account

Get answers to all your tax questions

Sign up

Login with SSO

Login to the community

Login with SSO

Scanning file for viruses.

This file cannot be downloaded