What is the %age of tax benefit for rental receipts?

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What is the %age of tax benefit for rental receipts?

2006-11-12 02:55:16 · 2 answers · asked by iktidar 2 in Business & Finance ➔ Taxes ➔ Other - Taxes

I am looking for info for Ontario, Canada.
I thought I had placed the question under Tax Canada but added in the upper level.........sorry for the confusion. If anyone has something to add for ON, Canada, that would be very welcome.......thanks.

2006-11-12 04:57:23 · update #1

2 answers

Its 30% on the Income after the reduction of the Unrealized rent and the interest on the HOME loan. It was the sec30 of the Income tax act which gives U the std deduction of 30%

2006-11-12 03:00:06 · answer #1 · answered by Ramasubramanian 6 · 0⤊ 1⤋

You might mention the location of the rental if you want to get accurate answers.

2006-11-12 11:21:31 · answer #2 · answered by ? 6 · 0⤊ 0⤋