03/08/2023
According to a recent Stats Canada report, almost 1.4 million Canadian households reported having property rental income. However, there are a lot of tax implications to consider when deciding to rent out a property, particularly one that used to be your primary residence. If you’re considering renting out a property you own, or buying a property to rent, speak to us. We will be able to help you work out the best way to finance the purchase, the tax consequences involved and how it would fit in with your overall financial plan.
March 6, 2023 Tax on rental income According to a recent Stats Canada report, almost 1.4 million Canadian households reported having property rental income. That’s a significant portion of the population.. Given that rents increased on average across Canada by 11% in 2022 (and by considerably more...