Rental Expenses

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Our Taxation experts answer questions on Rental Expense such as:

  • What income will be considered as my rental income?
  • What deductions are available to me as an owner of rental property?
  • What are some things I should know about rental property? 
  • After buying a condo and living in it for several years, Dish meets Pussy, marries him and moves into his house. Because the rental market in their area is improving, they decide that instead of selling Dish's condo, they could make some money by holding on to it and renting it out. But as first-time landlords, they don't know whether they need to report the rent they receive on their tax return and, if so, whether any of the money they spent to get the condo ready to rent is deductible.
  • If I rent out my vacation home, can I still use it myself?


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