Tax Deductible
- Thread starter crispino
- Start date
- Joined
- Aug 22, 2007
- Messages
- 2,005
Hi,
This is a complex topic that we discussed at the Ontario REIN Workshop this week (and will be covered in detail at the November 2007 Alberta workshop). It all depends on what your intention for the property is. If it is to buy and hold for a long time, you can write off a lot more than if you are planning on selling it in just a few years. When owning a rental property
That being said, a quick search of the Canada Revenue Agency site yielded a lot of information that will get you started and even provides you the forms you`ll need. Here`s the link:
http://www.cra-arc.gc.ca/ebci/cjcm/search/...p;Submit=Search
This is a complex topic that we discussed at the Ontario REIN Workshop this week (and will be covered in detail at the November 2007 Alberta workshop). It all depends on what your intention for the property is. If it is to buy and hold for a long time, you can write off a lot more than if you are planning on selling it in just a few years. When owning a rental property
That being said, a quick search of the Canada Revenue Agency site yielded a lot of information that will get you started and even provides you the forms you`ll need. Here`s the link:
http://www.cra-arc.gc.ca/ebci/cjcm/search/...p;Submit=Search
QUOTE (DonCampbell @ Oct 19 2007, 08:01 AM)
Hi,
This is a complex topic that we discussed at the Ontario REIN Workshop this week (and will be covered in detail at the November 2007 Alberta workshop). It all depends on what your intention for the property is. If it is to buy and hold for a long time, you can write off a lot more than if you are planning on selling it in just a few years. When owning a rental property
That being said, a quick search of the Canada Revenue Agency site yielded a lot of information that will get you started and even provides you the forms you'll need. Here's the link:
http://www.cra-arc.gc.ca/ebci/cjcm/search/...p;Submit=Search
This is a very helpful site..I would recommend that landlords take a look at this site.
Thanks Don.
Hi,
This is a complex topic that we discussed at the Ontario REIN Workshop this week (and will be covered in detail at the November 2007 Alberta workshop). It all depends on what your intention for the property is. If it is to buy and hold for a long time, you can write off a lot more than if you are planning on selling it in just a few years. When owning a rental property
That being said, a quick search of the Canada Revenue Agency site yielded a lot of information that will get you started and even provides you the forms you'll need. Here's the link:
http://www.cra-arc.gc.ca/ebci/cjcm/search/...p;Submit=Search
This is a very helpful site..I would recommend that landlords take a look at this site.
Thanks Don.
- Joined
- Sep 19, 2007
- Messages
- 53
QUOTE (crispino @ Oct 19 2007, 01:58 PM)
This is a very helpful site..I would recommend that landlords take a look at this site.
Thanks Don.
I agree. This is a great site. Thanks for providing this link Don.
George Hutchings
www.sellmeyourhomefast.com
Hutchings Investments
This is a very helpful site..I would recommend that landlords take a look at this site.
Thanks Don.
I agree. This is a great site. Thanks for providing this link Don.
George Hutchings
www.sellmeyourhomefast.com
Hutchings Investments
QUOTE (grhutchings @ Oct 19 2007, 08:16 PM)
I agree. This is a great site. Thanks for providing this link Don.
George Hutchings
www.sellmeyourhomefast.com
Hutchings Investments
I just bought the Canadian Landlord Rental Kit from Staples..and its not bad...also another good link to go to is www.ltb.gov.on.ca-- check it out very informative as well!
I agree. This is a great site. Thanks for providing this link Don.
George Hutchings
www.sellmeyourhomefast.com
Hutchings Investments
I just bought the Canadian Landlord Rental Kit from Staples..and its not bad...also another good link to go to is www.ltb.gov.on.ca-- check it out very informative as well!
- Joined
- Sep 29, 2007
- Messages
- 130
Good evening,
All good information. Feel free to use our checklists as appropriate at http://www.dubeandassociates.com/resources...checklists.html
The checklists are updated annually for your benefit and meant to be a reminder of possible deductions as compared to a statement that deductions are specifically allowed. Items which are not specifically listed may still be deductible. Your accountant will be able to guide you in the appropriate direction.
Warm regards...
George
All good information. Feel free to use our checklists as appropriate at http://www.dubeandassociates.com/resources...checklists.html
The checklists are updated annually for your benefit and meant to be a reminder of possible deductions as compared to a statement that deductions are specifically allowed. Items which are not specifically listed may still be deductible. Your accountant will be able to guide you in the appropriate direction.
Warm regards...
George