No, the rental expense cannot be claimed as either a tax deduction or a tax credit. However, the student may be eligible for the Ontario Energy and Property Tax Credit if applicable criteria are met. This benefit is generally paid to low-to-moderate-income individuals of at least 18 years of age for paying rent or property tax. To learn more about this benefit, eligibility criteria and application instructions, click here. Ensure supporting documentations such as lease agreement and/or rental receipts are kept in case they are requested for by the CRA .
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