Who We Serve
Real Estate Investors
Bookkeeping and tax support designed for Canadian real estate investors. Long-term rental properties, short-term rentals, and mixed-use holdings each carry specific reporting obligations, CCA decisions, and disposition considerations that require more than a standard tax return. We work with investors holding properties personally and through corporate structures.
Common situations we see
- Multiple properties requiring separate income and expense tracking
- Inaccurate or missing capital cost allowance tracking
- Refinancing interest deductibility questions
- Properties that previously served as a principal residence
- Short-term rental platform income with unclear GST/HST obligations
- Uncertainty about whether to hold properties personally or through a corporation
We provide structure, property-level tracking, and professional judgment based on your portfolio, income pattern, and long-term disposition plans.
Property-Level Bookkeeping
Each property tracked separately so income, expenses, and capital improvements are clean before tax season and before a disposition.
- Separate income and expense tracking per property
- Mortgage interest, property tax, and fee categorization
- Monthly reconciliations for each property account
- Repair and capital improvement distinction throughout the year
- Monthly financial statements by property
- Year-end file preparation for tax filing
- Setup and maintenance in Xero or QuickBooks Online
Tax Compliance
Returns prepared and filed by a CPA who understands rental income reporting, CCA elections, and the tax implications of selling or refinancing.
- T1 personal income tax return with T776 rental income schedule per property
- Repair versus capital improvement analysis for current deductions
- CCA election decisions and depreciation schedule maintenance
- Adjusted cost base tracking over the holding period
- T2 corporate tax return if properties are held through a company
- GST/HST registration and filings for short-term rental activity
- Instalment calculations based on rental income
- CRA correspondence support
Rental income is reported on T776 per property. Short-term rental activity that qualifies as a business uses T2125. GST/HST registration is required for short-term rental revenue exceeding $30,000 in a rolling 12-month period.
Tax Planning
Planning for real estate investors focuses on CCA strategy, principal residence elections, and ownership structure decisions that affect long-term tax outcomes.
- CCA strategy and recapture exposure analysis before selling
- Principal residence election preservation and change-in-use planning
- Refinancing and interest deductibility tracking
- Ownership structure evaluation: personal versus corporate holding
- Short-term rental GST/HST compliance and municipal licensing deductions
Common questions
- Should I claim CCA on my rental property?
- CCA reduces taxable income in the current year but may increase taxable income through recapture when the property is sold. The decision involves weighing current tax reduction against future recapture exposure and depends on your timeline and disposition plans.
- What happens if my principal residence becomes a rental property?
- A change in use may trigger a deemed disposition at fair market value. In some cases, an election is available to defer or avoid the deemed disposition. The treatment depends on timing, ownership structure, and whether the property was previously designated as a principal residence.
- Is my short-term rental income reported on T776 or T2125?
- Long-term rental income is generally reported on T776. If the short-term rental activity constitutes a business based on the level of services provided, T2125 may apply. GST/HST registration is required once revenue from taxable supplies exceeds $30,000.
Work with us
Holding rental properties or evaluating a real estate investment structure? Use the contact form to describe your situation and we will follow up directly.
Contact Teplov CPA