Revenue Canada & Rental Properties
Is the income from rental housing being declared by all property owners for taxation purposes?
In areas of Winnipeg that are zoned ‘single family dwellings’, it is legal for property owners to have two boarders and collect boarding fees. In speaking with the Canada Revenue Agency (CRA) about rental housing and the generated income, CRA is very interested in knowing about revenue that is possibly not being reported.
For more information, please visit:
- Informant Leads Program (http://www.cra-arc.gc.ca/gncy/nvstgtns/lds/menu-eng.html)
- Offshort Tax Informant Program ( http://www.cra-arc.gc.ca/gncy/cmplnc/otip-pdife/menu-eng.html)
- Frequently Asked Questions (http://www.cra-arc.gc.ca/gncy/nvstgtns/lds/faq-eng.html)
We will be discussing this topic as well as mortgage and insurance regulations related to rental properties at my upcoming community information event on September 30.
Everyone is welcome to attend.
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