Easy Rate QnA forum: Ask any question...
Home

Ask your question fast!
Question

Question Detail (required)


Login or Signup Now




Username:

Password:


Create Account
Lost Password

Leader Board
Leading ExpertsCredits
1.MortgageEnde11842Level 7
2.ANiyazi4816Level 5
3.mortgagepro4496Level 5
4.carrielawlor1676Level 4
5.MortgageManC1105Level 3
6.t_cameron76558Level 2
7.admingal1975519Level 2
8.khourypa362Level 2
9.Pattymurph341Level 2
10.Flip307Level 2
11.propertysold264Level 2
12.Magan245Level 1
13.michaels4316245Level 1
14.Ron244Level 1
15.Tristan238Level 1
16.Ned238Level 1
17.geoff12345237Level 1
18.ConsumerProt234Level 1
19.Shirly232Level 1
20.Tracey228Level 1
21.Charlie218Level 1
22.Desperatewif213Level 1
23.Jennette206Level 1
24.Alejandra201Level 1
25.Eusebio 199Level 1
View all

Categories



    A.
  • Aaron
  • Abroad
  • Account
  • Accountant
  • Afford
  • 2 3
  • Against
  • Alberta
  • Ally
  • American
  • Amex
  • Amount
  • Appraised
  • Approval
  • Approved
  • Arrive
  • Australia
  • Auto
  • Average


  • B.
  • Baby
  • Bank
  • 2 3 4 5
  • Bedroom
  • Benefit
  • Bill
  • Bring
  • Brunswick
  • Buying


  • C.
  • Calculate
  • Calgary
  • California
  • Canada
  • 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34
  • Canadian
  • 2 3 4
  • Canda
  • Capital
  • Car
  • Card
  • Cash
  • Cctb
  • Certificate
  • Charge
  • Check
  • 2 3
  • Cheque
  • 2 3 4
  • Child
  • 2
  • Claim
  • 2 3 4 5
  • Closing
  • Collect
  • Columbia
  • Coming
  • Common
  • Company
  • Condo
  • Contract
  • County
  • Court
  • Credit
  • 2 3 4 5 6 7 8

    D.
  • Date
  • Day
  • Debt
  • Declare
  • Deduct
  • Deducted
  • Default
  • Delivered
  • Demand
  • Deposit
  • 2
  • Deposited
  • Direct
  • Disability
  • 2 3
  • Distributed
  • Divorce
  • Dollar
  • Dont
  • Dose
  • Downpayment


  • E.
  • Early
  • Earn
  • Earned
  • Earning
  • Economy
  • Edmonton
  • Employer
  • Employment
  • Estate
  • Expire


  • F.
  • Facility
  • Fargo
  • Federal
  • File
  • Filed
  • Filing
  • Fill
  • Floor
  • Florida
  • Following
  • Foot
  • Foreign
  • Full


  • G.
  • Getting
  • Going
  • 2
  • Gold
  • Goverment
  • Government
  • Govt
  • Gst


  • H.
  • Happen
  • Happened
  • Haven
  • Havent
  • Heloc
  • Hour
  • Hst
  • Husband


  • I.
  • Income
  • 2 3 4 5 6 7
  • Increase
  • Inspection
  • Insurance
  • Interest
  • Interview
  • Into
  • Issued


  • J.
  • Jail


  • L.
  • Landlord
  • Lease
  • Leather
  • Leave
  • Lien
  • Loan
  • 2 3 4
  • Lose
  • Lost
  • Luxury


  • M.
  • Mail
  • 2 3
  • Mailed
  • Making
  • Manitoba
  • Married
  • Mastercard
  • Medical
  • Missed
  • Money
  • 2 3 4 5 6
  • Month
  • Monthly
  • Morgage
  • Mortage
  • Mortgage
  • 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20
  • Multiple


  • N.
  • Newfoundland
  • Next
  • Note
  • Nursing


  • O.
  • Odsp
  • Offer
  • Ontario
  • 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25
  • Open
  • Osap
  • Other
  • Other 1
  • Other 2
  • Other 3
  • Other 4
  • Other 5
  • Ottawa
  • Owe
  • Owner


  • P.
  • Package
  • Paid
  • Past
  • Pawn
  • Pay
  • Paycheck
  • Payed
  • Paying
  • Payment
  • 2 3
  • Percent
  • Percentage
  • Person
  • Personal
  • Phone
  • Pick
  • Pizza
  • Post
  • Premium
  • Price
  • Property
  • 2
  • Purchase
  • Purolator


  • Q.
  • Qualify
  • Quarterly
  • Quebec


  • R.
  • Rate
  • Rebate
  • Receive
  • Received
  • Recieve
  • Recieved
  • Recive
  • Reference
  • Refund
  • Registration
  • Rent
  • Rental
  • Repo
  • Report
  • Resident
  • Resource
  • Return
  • Rise
  • Rrsp


  • S.
  • Salary
  • Sale
  • Santander
  • Save
  • Scotia
  • Sell
  • 2
  • Selling
  • Send
  • Sent
  • Sept
  • Septic
  • Ship
  • Shipping
  • Single
  • Slip
  • Social
  • 2 3
  • Sold
  • Someone
  • Something
  • Sort
  • Spouse
  • Ssdi
  • Ssi
  • Stolen
  • Strata
  • Strike
  • 2 3 4
  • Student
  • Support
  • Surrey


  • T.
  • Taken
  • Tax
  • Taxe
  • Taxed
  • Thousand
  • Ticket
  • Toronto
  • 2 3 4
  • Track
  • Transfer
  • Tuition


  • U.
  • Unemployment
  • United
  • Unused
  • Utility


  • V.
  • Vancouver
  • Vehicle
  • Verify
  • Visa
  • Visit


  • W.
  • Wage
  • Week
  • Welfare
  • 2
  • Wife
  • Winnipeg
  • Working


  • Y.
  • Year
  • York





Property Tax Credit/Basement Rented

 
Answer
Subscribe
 
Report Abuse
   



Vote:
Asked by
anonymous


How much of my property taxes can I claim under the Ontario Property Tax Credit if I claim 40% as an expense for my rental income from my basement? Can I claim 100% or only 60%?
0     In Credit Cont.05

Industry Experts


    + Add Expert
    Recommend an Industry Expert - You can recommend an "expert in the field" below. An industry expert is anyone you feel would be well qualified to answer this question and publicly accepts inquiries on this subject. If you are an industry expert and you are willing to answer our user's inquiries, you can enter your contact information below.



     

    Q. What happens your mortgage when you have to move into rented accommodation?


    "Complete mortgage payment is similar to a rental payment the leaving partner will have..."



    I spoke to a (free community) lawyer re the same situation. They advised that if the complete mortgage payment is similar to a rental payment the leaving partner will have to pay that the partner still in the house has to cover the costs. I`d seek legal advice before confirming this though.

    This answer closely relates to:
    • Tax benefits rental basement
      • How do my common law partner and i change the deed and mortgage to just myself?
      • How can i transfer a joint mortgage which i have with my ex partner to a sole ownership and how long will it take?

    Comment
    Reply
    Report


    0 0
      

     
    Add your answer/comments in just seconds. No signup necessary.
    Just put your answer in the box below and hit Save.


    Yes, also subscribe me to this question so I can follow the discussion




    Can you help us by answering one of these related questions?
    1. Do i need to report income tax return if i rent out basement in toronto?
    2. If i rent my basement want can i deduct on my 2010 income tax return?
    3. If there is a tenant in my basement paying rent do ihave to claim it on my taxes?
    4. If i rent my basement want can i deduct on my 2010 ontario income tax return?
    5. How does a lein on property affect credit alberta?
    6. Should i apply for ontario property tax credit on my second house?
    7. How much income is too much to claim ontario seniors property tax credit?
    8. Can you claim ontario property tax and rental credit if out of province?
    9. If i live with my parents can i claim the ontario property tax and rental credit?
    10. Can your dependent claim property tax for your property?

    We need your help! Please help us improve our content by removing questions that are essentially the same and merging them into this question. Please tell us which questions below are the same as this one:

    Q: Property tax credit/basement rented?
    • 76% - Can i claim property tax credit if i m paying parents to rent basement?
    • 39% - I have rented a apt for tax resaosn?
    • 39% - How do i put on my taxes that my house is being rented?
    • 38% - Where do i claim a rented apt for my son while going to school on income tax?
    • 38% - Can i deduct interest on a condo that is not rented?
    • 38% - I own a house but i need to move into rented accomadtion?
    • 38% - Do i claim all expenses on an apartment if all are not rented?
    • 38% - I own a home and need to move out can i get help with rented occomadation?
    • 38% - Who can claim mortage if own house rented?
    • 38% - If my landlord sells my rented condo what happens?
     

    © 2009-2011 Easyrate.ca Answers Community, All Rights Reserved.
    Need more answers to your questions? Search for answers at:
    PanamaREALS | NeWorldRealty - Investments | IDoWeb - General