Yes, generally, the rental income you earn from renting out a room in your home through Sparrow is considered taxable income. It should be declared on your annual tax return. However, there can be exceptions and specific conditions depending on your local tax laws. It's always best to consult with a tax professional to understand your individual circumstances and obligations.
In many cases, you may also be able to claim certain expenses related to renting a room in your home, such as maintenance, utilities, repair costs, and even Sparrow fees.
Remember, tax laws can be complex and vary significantly by location, so it's crucial that you consult with a tax advisor or accountant who can provide advice tailored to your personal circumstances. They can help you understand what expenses you can claim and how to do it properly.