Canadian Money Forum banner
1 - 3 of 12 Posts

· Registered
Joined
·
3,197 Posts
It's a bit of a trick question. CRA's web site has no clear direction on this. I think because they don't want to leave any loopholes for people to crawl through. Instead they simply seem to treat everything as rental income.

But in practice I think the kind of situations you describe generally go unreported, and CRA doesn't do anything about it, because there is no Net Taxable Income. For example, suppose you reported your roommate's contribution to the rent as rental income. But you would be allowed to deduct as an expense a proportionate share of the rent you are payng the landlord as your "cost" of providing your roommate's space. So you have no net rental income. I believe the 1-2 week sublet would fall into the same category.

Your ex's lawyer is not asking just about taxable income though. He is trying to get data on your actual living costs and income as it affects your ability to pay support. For example you can't claim you need $2000/month to pay for your condo if in fact you have a roommate who is paying half.

In any case you should be talking to your own lawyer, not us amateurs, particularly if your financial circumstances have significantly changed from your original settlement.
 

· Registered
Joined
·
3,197 Posts
his lawyer is asking me to report rental income because he knows that I have a roommate.

Just to reiterate. You shouldn't be teling your ex's lawyer anything directly in case you get trapped into saying something you shouldn't. Refer all questions to your own lawyer.
 

· Registered
Joined
·
3,197 Posts
To everyone: this is a family law issue, not an income tax issue. Precisely what information her ex's lawyer is entitled to have on her rental costs, whether gross or net; and sources of income, whether gross, net, or taxable; is a mattter to discuss with her lawyer.
 
1 - 3 of 12 Posts
This is an older thread, you may not receive a response, and could be reviving an old thread. Please consider creating a new thread.
Top