RENTAL PROPERTY WORKSHEET
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RENTAL PROPERTY WORKSHEET
TAX YEAR:
NAME: ______________________________________________
PLEASE COMPLETE THIS PAGE FOR EACH RENTAL PROPERTY
Rental Property Description
Rental Property Address
___________________________________________
Percentage of Ownership
___________________________________________
Co-owners (if applicable)
___________________________________________
(provide name, address and percentage of ownership)
Change-of-use of property during year?
___________________________________________
(primary residence vs rental, commercial vs residential)
Purchase or Sale of Property
___________________________________________
(provide statement of adjustments, mortgage/finance documents)
Building Additions or Improvements
___________________________________________
(provide details)
Rental Property Income
Personal Use Percentage, if any Number of Rental Units Gross Rents Other Income
___________________________________________ ___________________________________________ ___________________________________________ ___________________________________________
Rental Property Expenses
Advertising Insurance Interest/Borrowing Charges Stationery and Supplies Accounting and Legal Fees Management, Condo or Strata Fees Maintenance, Landscaping and Repairs Salaries and Benefits (including CPP and EI paid) Property Taxes Travel Expenses (some limitations apply) Utilities (not paid by tenant) Other Expenses (please describe)
___________________________________________ ___________________________________________ ___________________________________________ ___________________________________________ ___________________________________________ ___________________________________________ ___________________________________________ ___________________________________________ ___________________________________________ ___________________________________________ ___________________________________________ ___________________________________________
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CLEAR PAGE VERSION: FEB21
PLEASE COMPLETE THIS PAGE FOR EACH VEHICLE USED
Automobile Expenses (some limitations apply)
PLEASE DESCRIBE WHEN AND WHY THE VEHICLE IS USED IN RELATION TO THE RENTAL PROPERTY
Additions or Disposals of Vehicles
___________________________________________
(provide purchase agreements, sales proceeds and dates)
Make, Model and Model Year
___________________________________________
Zero Emission Electric or Plug-in Hybrid
___________________________________________
Owned or Leased
___________________________________________
(provide cost of vehicle or lease agreement)
Interest on Loan or Lease Costs per Month
___________________________________________
Car Insurance
___________________________________________
Fuel Expenses
___________________________________________
Licence and Registration Fees
___________________________________________
Maintenance and Repairs
___________________________________________
Parking and Tolls
___________________________________________
Vehicle Mileage
PLEASE NOTE THAT IF VEHICLE EXPENSES ARE REVIEWED BY CRA, YOUR VEHICLE MILEAGE LOG WILL BE REQUIRED
Odometer Reading at Beginning of Year Odometer Reading at End of Year Total Kilometers for Year Business Kilometers Driven
(retain vehicle mileage log to support claim)
___________________________________________ ___________________________________________ ___________________________________________ ___________________________________________
FOR ADDITIONAL INFORMATION, THE CRA WEBSITE HAS INFORMATION ABOUT:
Completing Form T776, Statement of Real Estate Rentals Income
Rental expenses you can deduct Motor vehicle expenses Keeping records
Guide: T4036 Rental Income
Other CRA Publications and Guides for Taxpayers
And the Koroll & Company website is a great resource for tax information! koroll.ca
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VERSION: FEB21
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