![]() You are required to file the T776-Statement of Real Estate Rentals form to report your rental income and expenses even if you have a loss. If you simply provide the use of space in a home, apartment building, or office, as well as basic services such as electricity, parking, and laundry facilities, the CRA will not consider your rental enterprise a business. As a result, you will be required to file Form T2125 - Statement of Business or Professional Activities. For example if you are renting a space or property where you provide meals, cleaning, or other services in addition to the rented space, you most likely have a business. Rental Income or Business Incomeĭepending on the services you provide to your tenants, you may have a business rather than rental income. CRA governs the expenses you can claim under your rental income and the rules of splitting the income with other partners. Whether you rent a building, a room in your house, or a commercial place, you have to declare your income or losses in your income tax return. If you are renting a real state property that you own, you are considered to have a rental income.
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