Canadian CC· Registered
Technically, if you receive money from rent, you should declare it. However, you can also declare all related expenses you have to "make" this money.I am concerned that I have this right - I have read that if I use sub-leasing to pay my rent and I don't make money over and above my rent that needs to be paid, that it isn't rental income. Is this true?
Therefore, if your rent cost $1000 and you splitting expenses 50%/50%, you will earn $500 a month from your roomate but spend $500 (half of your rent) to earn this money. So the sum is $0... you declare your income, but it turns out to be a $0 income ;-)