There are a number of tax deductions that real estate investors have access to.
Please consult your accountant and not solely rely on the list below as certain criteria maybe required by CRA.
1. Interest, arguably the most important deduction
2. Depreciation typically done over a 27.5 year period
3. Any repairs done to the property
4. Local traveling done by you as it relates to the property
5. Long distance travelling as long as 50% of time is spent conducting business
6. Home office if used solely for business
7. Any hired employees
8. In event of disaster, such as fire or floor, the government will allow a write off
9. Insurance expenses such as home, flood, etc
10. Any professional legal services such as lawyers, accountants, property managers
Bonus; Amortization costs
