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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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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