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March 27, 2024
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I live in cooperative housing am I still eligible for renters tax credit?

  • March 27, 2024
  • 1 reply
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what are the parameters/criteria to be eligible or not eligible?
    Best answer by TurboTaxBrenda

    Yes, a co-op housing qualifies if you pay rent for the unit. 

     

    A rental unit in the following types of accommodations may be considered an eligible rental unit if the unit is rented and rent was paid for that rental unit: 

    • Co-operative housing
    • During the year:
      • You occupied an eligible rental unit in B.C. under a tenancy agreement, licence, sublease agreement or similar arrangement
      • You occupied an eligible rental unit in B.C. for at least 6 one-month periods. You may occupy different eligible rental units during the year, for a total of at least 6 one-month periods. Any occupancy period of less than one month does not count as a one-month period
      • Rent was paid for that rental unit
    • On December 31 of the tax year, you were a resident of B.C. and you were:
      • 19 years of age or older, or
      • A parent, or
      • Cohabiting with a spouse or common-law partner

    Note: Eligible tenants who rent and occupy an eligible rental unit under a rental or tenancy agreement together but are not married or in a common-law relationship with each other (roommates) may each claim their own renter's tax credit if all other criteria are met. 

    You cannot claim the renter’s tax credit if you:

    • Are the cohabitating spouse or common-law partner of a renter who has already claimed the credit for the tax year
    • Were confined to a prison or similar institution on December 31 of the tax year and were confined for periods totalling more than 6 months during the year
    • Were an employee of a foreign government or resided with a family member or a servant of the employee of a foreign government in Canada (for example, diplomats and their household members)
    • Die before the end of the year

    Thank you for choosing TurboTax.

    1 reply

    TurboTaxSusan
    March 27, 2024

    What province are you in?

    March 27, 2024

    BC

    Community Manager
    March 27, 2024

    Yes, a co-op housing qualifies if you pay rent for the unit. 

     

    A rental unit in the following types of accommodations may be considered an eligible rental unit if the unit is rented and rent was paid for that rental unit: 

    • Co-operative housing
    • During the year:
      • You occupied an eligible rental unit in B.C. under a tenancy agreement, licence, sublease agreement or similar arrangement
      • You occupied an eligible rental unit in B.C. for at least 6 one-month periods. You may occupy different eligible rental units during the year, for a total of at least 6 one-month periods. Any occupancy period of less than one month does not count as a one-month period
      • Rent was paid for that rental unit
    • On December 31 of the tax year, you were a resident of B.C. and you were:
      • 19 years of age or older, or
      • A parent, or
      • Cohabiting with a spouse or common-law partner

    Note: Eligible tenants who rent and occupy an eligible rental unit under a rental or tenancy agreement together but are not married or in a common-law relationship with each other (roommates) may each claim their own renter's tax credit if all other criteria are met. 

    You cannot claim the renter’s tax credit if you:

    • Are the cohabitating spouse or common-law partner of a renter who has already claimed the credit for the tax year
    • Were confined to a prison or similar institution on December 31 of the tax year and were confined for periods totalling more than 6 months during the year
    • Were an employee of a foreign government or resided with a family member or a servant of the employee of a foreign government in Canada (for example, diplomats and their household members)
    • Die before the end of the year

    Thank you for choosing TurboTax.