They have a office in Scarborough Town Center. You can go there and ask the consultant all your concerns. There is also a booklet specifically regarding the basic principles of claiming rental income.
Basically, you should claim your rental income.
1. If the property is your primary dewelling, you can deduct the rental income to cover part of your property expenses, like utility expense, mortgage and repare. Also you may be able to cover some expense like buying the washer/dryer.....The principle policy Canada Revenue goes by is that you can say you do not make any income on this rental, but you can not claim any lost on it.
2. If this is not your primary dewelling, you can deduct the income to cover all your property expenses,..............
Hope this help.
Basically, you should claim your rental income.
1. If the property is your primary dewelling, you can deduct the rental income to cover part of your property expenses, like utility expense, mortgage and repare. Also you may be able to cover some expense like buying the washer/dryer.....The principle policy Canada Revenue goes by is that you can say you do not make any income on this rental, but you can not claim any lost on it.
2. If this is not your primary dewelling, you can deduct the income to cover all your property expenses,..............
Hope this help.