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BC Landlord Tax Checklist
The yearly tax and declaration steps for a BC rental: income tax, the speculation and vacancy tax, Vancouver's Empty Homes Tax, and the taxes on buying and selling.
PDF18 itemsFor landlords
What's Inside
The first 5 of 18 steps
- Report gross rents and expenses on Form T776File it with your personal return (CRA T4036).
- Separate current and capital expensesCapital costs go to a CCA class, not this year's deductions.
- Apply the half-year rule to new propertyCCA on half the net additions in the year acquired.
- Do not use CCA to create a rental lossCCA can only bring rental income down to zero.
- Keep records for six yearsLeases, receipts, bank records and CCA schedules.
+13 more items in the full checklist
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