Rental Property Tax Services: What You Need to Know
- Haddad Financials
- Nov 25
- 1 min read
Updated: 5 days ago
Owning a rental property can be a great investment, but it also comes with annual tax reporting requirements. At Haddad Financials, we help landlords accurately prepare and file their rental income taxes to ensure full compliance with CRA rules and to maximize eligible deductions.
What’s Included in Rental Property Tax Filing?
We prepare the required T776 – Statement of Real Estate Rentals, which reports:
Gross rental income
Operating expenses
Capital improvements
Interest and mortgage details
Depreciation (CCA)
Property usage (full rental or partial rental)
It is key to note that a T776 is reported as an addition to the T1 return. T776 are not required for Corporations as the rental-income is included as part of the T2 return.
Key Documents You Should Provide
To file your rental income accurately, you’ll typically need:
Rental income summary (monthly or annual)
Lease agreements
Mortgage interest statements
Property tax statements
Utility bills (if paid by you)
Insurance documents
Repairs & maintenance receipts
Major renovations/improvements (for CCA)
Condo fees (if applicable)
Advertising or listing expenses
What If You Keep Your Own Records?
Haddad Financials offers full bookkeeping for rental properties; however, if you maintain your own rental income/expense summary (Excel, spreadsheet, or notebook), we can prepare your T1 rental filing at a discounted service fee, provided your records are complete and organized.
Why Choose Haddad Financials?
Accurate and CRA-compliant rental reporting
Optimized deductions and CCA claims
Support for long-term rentals, short-term (Airbnb/VRBO), and multi-unit properties
Guidance on allowable vs. capital expenses
Clear, affordable pricing
Ready to File Your Rental Property Taxes?
Click Contact Us to get started.
Haddad Financials makes rental property tax filing simple, accurate, and stress-free.
