In our province, we have a unique credit available to all Manitoba households – sometimes referred to as ‘The Rent Credit’…

If you own your property, the province gives you a $700 credit on your annual property tax bill, which is due every June.

If you rent, the $700 credit (or portion of) is given to you when you do your income taxes.

The important thing is that there is only one tax credit available per household.

For example…If you own your home and rent out a room to an individual, only the property owner may receive the credit. The individual renting the room would not qualify for the rent credit (and in fact, Revenue Canada does not see this as rent, but instead as a cost sharing arrangement).

Also…If you and a few others rent an apartment together, only one of you may claim the full amount of rent on your taxes (this is usually the person who signs the lease). You cannot each claim your portion of rent, as there is only ONE credit available per address.

Again, this credit, whether you OWN or RENT, is only available once per household.