Tax Accountant for Duplex and Triplex Owners in Ontario and Across Canada
You live in one unit and let the other one or two, which makes your return an allocation exercise before it is anything else. The natural unit of allocation is the self-contained unit itself rather than a square-footage estimate across a shared interior: a roof, a boiler or the exterior masonry is a whole-building cost and gets apportioned, while a kitchen replaced in unit two is not. Then comes the question most owners have been given the wrong answer to. If you hold the building with a spouse, a sibling or a friend, you are probably co-owners and not partners — the Canada Revenue Agency’s position is that co-ownership of a rental property as an investment does not in itself constitute a partnership, and a partnership needs a business carried on in common. The difference matters, because partners carry filing obligations co-owners do not, and because co-owners enter the rent for the entire building at line 12599 as one undivided figure instead of each reporting a share of it. Then the building’s age, which decides whether it sits in Class 1 at four per cent or Class 3 at five. Then interest, where a refinancing is settled by tracing what the money was used for and not by what secured it. All four get worked through, the file gets built, and the return goes in — on AFFORDABLE flat fees.
AFFORDABLE Duplex and Triplex Tax Accountant
A small multi-unit building is not one property for tax purposes and it is not three either. It is a single legal parcel carrying two or three whole self-contained units, and the return has to say which costs attached to which of them. That is the whole of the difficulty. Every figure that reaches Form T776 has already been through a decision about whether the money was spent on the building, on a unit you let, or on the unit you live in, and nothing further down the form repairs a decision taken wrongly at that point.
The owners on our books live in the lower half of a converted house and let the upper, or occupy one flat of three and let the other two, or hold a triplex jointly with a brother, a sister or a spouse and have never settled on paper what that joint holding actually is. A good many of the buildings went up before 1988, which puts them on the far side of a capital cost allowance line most advice never mentions. Several have been refinanced at least once, and the money that came out did not all go back into the building.
You collect the rent and keep the boiler running. We will decide what belongs to which unit, write the basis down so it survives a review, and tell you plainly who the taxpayer on this building actually is.
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Accounting That Understands How a Duplex or Triplex Actually Works
Most rental templates assume one property, one tenant and one set of expenses. An owner-occupied duplex or triplex has one roof, one mortgage and one property tax bill sitting above two or three separate dwellings, one of which is your home. Bookkeeping that pours the building into a single bucket cannot tell you what was deductible, on what basis the split was made, or whose return the rent belonged on.
Stay Compliant and Minimize Your Duplex and Triplex Tax
The two aims run together on this file. The figure that lowers the tax is the allocation, and the allocation is only worth anything if the basis for it was written down at the time and the invoices were sorted as they arrived. Neither the saving nor the defence can be assembled backwards from memory in April.
Accounting & Tax Experts for Duplex and Triplex Owners
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Why Choose Our Accounting Services for Duplex and Triplex Owners?
Tax Planning — Allocate Before You Spend
The same money spent on the roof reaches every unit and the same money spent on your own kitchen reaches none of them. Knowing that before the cheque is written is worth more than any entry made afterwards.
Consulting — Co-Owner, Partner, or Corporation
We apply the partnership test to how you actually hold the building, explain what each answer costs you in filings, and give the incorporation question a straight answer instead of an enthusiastic one.
CRA Representation — An Allocation Under Review
A reviewer asks how the costs were divided and where that basis is recorded. We hand over the schedule, the floor areas and the sorted invoices as they were kept at the time.
Bookkeeping — Whole-Building Costs Apart From Unit Costs
Every invoice is flagged on arrival as building-wide or confined to one unit. That single flag is what the whole allocation is later built from, and no bank line will give it back to you.
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Duplex and Triplex Clients
Duplex and Triplex Tax and Accounting Services in Ontario
Personal & Self-Employed Tax Filing for Duplex and Triplex Owners
Form T776 with the gross rent for the whole property at line 12599, the co-owner section completed where the building is held jointly, and every cost traced to a unit first.
Bookkeeping & Accounting for Duplex and Triplex Owners
Rent logged unit by unit and every invoice flagged on arrival as whole-building or confined to one unit, with the owner-occupied unit kept visible and separate.
Payroll Services for Duplex and Triplex Owners
Rarely needed on a two or three unit building. Where you genuinely do pay a wage, the account is opened first, remittances are timed, and year-end slips are produced.
GST/HST Filing for Duplex and Triplex Owners
Long-term residential rent is an exempt supply, so none is charged on it. Where you are registered for something else entirely, we keep the exempt rent clear of that return.
Tax Planning for Duplex and Triplex Owners
Where the next large sum is spent and which unit it reaches, how much capital cost allowance to take or skip, and the instalment position once the second unit is let.
Catch-Up Tax Filing for Duplex and Triplex Owners
Unfiled years rebuilt from leases, mortgage statements and property tax bills, with the allocation reconstructed year by year and the returns filed oldest first.
CRA Review Representation for Duplex and Triplex Owners
Queried allocations, queried interest and buildings depreciated in the wrong class, answered with the schedule and the invoices rather than with argument.
CPA Compilation Report (Notice to Reader) for Duplex and Triplex Owners
Occasionally wanted by a lender on a refinancing. Hardly any owner of a small building needs one, and we will tell you when you are not one of them.
Incorporation Review for Duplex and Triplex Owners
A real question for this reader and usually a no. Rent in a corporation is taxed as investment income, and the exemption on the unit you live in does not survive the move.
Catch-Up Bookkeeping Services for Duplex and Triplex Owners
Years of rent, interest, tax, insurance and repairs reconstructed and sorted into whole-building, let-unit and owner-occupied until the ledger and the deposits agree.
US Corporation & LLC Tax Filing for Duplex and Triplex Owners
An Ontario duplex carries no American exposure of its own. This is here for the few owners who already file there, and we say plainly when it is not you.
Voluntary Disclosure Program for Duplex and Triplex Owners
Coming forward on a unit that was let for years and never reported, before the Agency makes contact about the year and the route closes.
Accounting & Tax Services Tailored for Duplex and Triplex Owners
Twelve services, written for an owner who lives in one unit of the building, lets the rest, and very often holds the whole of it with somebody else.
- Rent from a duplex or a triplex is reported as income from property on Form T776, the Statement of Real Estate Rentals, and the gross for the year reaches line 12599 of your return, the building going in as one property.
- Where the building is held with somebody else, the co-owner details are completed and the rent for the whole building still goes in undivided at line 12599, with your own share taken off further down the statement.
- Only the expenses that relate to the rented units are deductible, so every amount is traced to a unit before it is entered, and the unit you occupy yourself carries its share out of the claim rather than into it.
- Where you also run a business of your own, that income is reported separately under its own rules and kept entirely clear of the rental statement, because a cost deducted on the wrong schedule is a cost claimed twice or not at all.
- A partner who receives a Form T5013 slip fills in only limited fields on Form T776 and carries the slip amount through instead of completing the full statement, which is a different exercise from the one a co-owner does.
- Every cost entering the ledger is tagged at the point of entry as a whole-building cost or a cost confined to one unit, because that single flag is what the allocation is later built from and it cannot be recovered from a bank line.
- Rent is recorded unit by unit with the tenant and the period it covers, so the gross figure reported for the whole property can be reconciled back to the individual leases rather than to the total of the deposits.
- The owner-occupied unit gets its own code and nothing else. Keeping it visible is what stops the household hydro, the personal insurance and the repairs to your own kitchen from drifting quietly into the rental side of the ledger.
- Capital items are set up on an asset register with the date they were acquired and the class they belong in, so the building, the appliances and the improvements are each written down against their own balance year after year.
- Where you already use QuickBooks Online, Xero, Wave, Buildium, Yardi Breeze or Landlord Studio we work inside it and add the unit dimension, and where receipts arrive by photograph we will put Dext or Hubdoc in front of it.
- This is one of the three thin cards on the page and we would rather label it than inflate it. A two or three unit building almost never has an employee, and most owners reading this will never open a payroll account.
- The snow clearing, the lawn, the plumbing and the turnover cleaning are almost always bought from self-employed trades who invoice you, and buying a service from somebody who runs their own business creates no payroll obligation for you at all.
- A resident superintendent paid a wage is a genuinely different conversation, and it belongs to a larger building than yours. Whether a particular arrangement is employment at all is settled on your facts rather than asserted on a web page.
- If you genuinely do pay a wage, open the account and the Business Number first: the duty to withhold and remit arises from the payment itself, and a registration completed afterwards does not cure the remittance that was already late.
- Where a wage was in fact paid in an earlier year with nothing withheld, we quantify what was owed, produce the missing slips and bring the whole position current in a single exercise instead of unwinding it one year at a time.
- Long-term residential rent is an exempt supply, so there is no tax to charge on it, no registration obligation arising from it and no input tax credit to recover on the costs of earning it. That is the whole of the answer.
- The exemption turns on duration. Rent of a residential unit is exempt where the occupancy, or the right of occupancy, runs for one month or more to the same individual, which covers every ordinary lease in a duplex or a triplex.
- There is a point here most owners miss. Where you pass the property taxes on under the lease, those taxes form part of the consideration for the rental and are exempt as well, even where the tenant pays the municipality directly.
- The purpose-built rental housing rebate does not reach you. By its own terms it does not apply to condominium units, to single-unit housing, or to duplexes and triplexes, which is worth knowing before you read something that suggests otherwise.
- Where you are registered for another reason entirely — a trade, a consultancy, a corporation of your own — the residential rent stays outside that registration, and we keep the two apart so the exempt rent is never dragged into a return.
- The planning question unique to this building is where the money goes before it is spent. A job confined to the unit you occupy yields nothing; the same money spent on the roof is shared across the building and reaches the rented units.
- Capital cost allowance is a lever to use carefully. Regulation 1100(11) bars it from making or enlarging a rental loss, and the bar is measured over everything you let rather than one class at a time.
- Because anything from nil up to the maximum may be claimed, the allowance is a dial and not a switch, and in a year the building would otherwise show a loss the sensible figure is often none of it at all.
- The instalment position is the other recurring item. Instalments fall due where net tax owing passes $3,000, or $1,800 for a Quebec resident, both in the current year and in one of the two years before it.
- Those dates are 15 March, 15 June, 15 September and 15 December, and a first strong year of rent on a newly let second unit is the classic way an owner meets a balance owing one spring and an instalment demand the next.
- Unfiled years get rebuilt out of whatever is left: bank records, the mortgage statements, the property tax bills, the leases, and whatever invoices remain for the work done on the building and on each of the units inside it.
- The allocation has to be reconstructed year by year rather than applied as one present-day percentage, because the unit you occupied, the units you let and the rents they produced will not have been the same throughout the period.
- Returns go in oldest first, because the capital cost allowance balances, the undepreciated capital cost carried under subsection 13(21) and any losses all roll from one year into the next and a return filed out of sequence usually has to be amended.
- Where a return never went in, subsection 152(7) is the authority under which the Agency may assess on the strength of what it already has. We state that as law and not as a forecast; such an assessment counts rent and no costs.
- Where the facts genuinely support it we apply on Form RC4288 for relief from the penalties and the interest, and you will hear at the outset, in plain terms, whether we think yours do. We do not sell optimism about it.
- The question a reviewer asks about a small multi-unit building is almost always the same one: on what basis did you divide the costs between the unit you live in and the units you let, and where is that basis written down?
- We answer with the schedule as it was built at the time, the floor areas or room counts behind it, the leases, and the invoices sorted into whole-building work and work confined to a single unit.
- Where the interest claim is queried, the answer is the use the borrowed money was put to. Paragraph 20(1)(c) turns on purpose, so a refinancing is answered with the trail the funds actually took and not with a ratio.
- Where a building has been depreciated in the wrong class for years, the schedule is rebuilt from the acquisition date forward rather than corrected only in the open year, because the balance carried into every later year was wrong too.
- Correspondence runs through us from the first letter, and where an earlier year needs correcting rather than defending we file Form T1-ADJ and say so, which is usually cheaper than arguing for a position that was never right.
- This is the second of the three thin cards. Hardly any owner of a small building needs a compiled financial statement, and if no lender has asked for one then nothing on this card reaches you at all.
- Where it does come up it is normally a refinancing or a second mortgage, and the lender wants the building presented as an income-producing property with its revenue, its operating costs and its result set out in one place.
- A compilation is not an audit and not a review, and the notice to reader on its face says exactly that, so no reader comes away thinking the numbers were checked when they were only assembled from your own records.
- Whatever the statement shows is drawn from the same ledger that produced the filed Form T776, so the two agree line for line. Any lender who reads carefully compares them, and a mismatch is what sinks an application.
- If a lender has not asked for one, we will tell you so and leave it there. We would rather write that down than find you a product to buy that your file does not need.
- This question deserves a real answer rather than a shrug, because a great many duplex and triplex owners are told to incorporate by somebody who has never looked at how rental income is taxed inside a corporation.
- Rent earned inside a corporation is normally income from a specified investment business: subsection 125(7) reaches a business whose main purpose is to earn income from property, and rent is exactly that, so the preferential rate for active business income is out of reach.
- The second consequence is closer to home. The unit you occupy is your residence, and the principal residence exemption reaches the unit you live in. Put the building in a company and that exemption on your own home goes with it.
- Transferring a building you already own into a corporation is itself a disposition with its own consequences, and the land transfer tax position is a separate matter we will not put a rate to on a web page.
- For most owner-occupiers the honest answer is no, and you will get it at the first meeting rather than after a company has been registered. Where the facts are genuinely different we set out the arithmetic and the filings you take on.
- Years of rent, mortgage interest, property tax, insurance, utilities and repairs are rebuilt from bank statements and whatever invoices survive, then reconciled until the ledger and the deposits tell the same story about the building.
- The first pass puts every cost into one of three buckets — whole building, a let unit, or the unit you occupy — and nothing downstream can be relied on until that is done, because no bank line records which it was.
- Capital work found in earlier years is set up properly with its acquisition date and its class, so the building, the appliances and the improvements each have a written-down balance instead of being expensed in the year the invoice surfaced.
- Where the building changed — a unit let for the first time, a unit taken back for family, a tenant arriving partway through a year — the allocation changes with it, and the reconstruction follows the building rather than today’s arrangement.
- What you end up holding is a ledger that would survive a reviewer reading it, an asset register that agrees with the ledger, and figures solid enough to file the late and amended years from.
- This is the third thin card and the thinnest of them. A duplex or a triplex in Ontario has no United States tax exposure of its own, and most of the owners reading this will never file anything there.
- It appears on the page because a few owners do hold something on the other side of the border, or hold their Canadian building through an entity formed there, and those two facts change what has to be filed.
- If you hold no United States property, have no United States payer and own no interest in a United States entity, then there is nothing here that reaches you and we will not invent a reason for it to.
- Where you already have a filing obligation there, the two countries are handled as a single exercise, so one set of books, one currency policy and one set of numbers feed both returns rather than two inconsistent ones.
- A question of American law is not ours to answer. We say so plainly and bring in a practitioner admitted there, because confident guessing across a border is the single most expensive thing an adviser can do.
- If a unit in your building has been let for years and the returns never showed the rent, the Voluntary Disclosures Program is the route in — and it is only open while you are the one moving first.
- The route shuts the moment the Canada Revenue Agency makes contact about a year: that year can no longer be disclosed. Very little else in tax turns on which side moved first.
- The application is accompanied by Form RC199, the taxpayer agreement. What it has to contain is the unreported rent, the years it belongs to, and a clear account of how the corrected figures were arrived at.
- The rent is quantified from bank records and the leases before anything is submitted, because an application that understates the size of the problem leaves you worse placed than one that was never made.
- Costs go in at the same time. A disclosure of gross rent that leaves out the mortgage interest, the property tax, the insurance and the allowance on the building reports a liability larger than the one that ever existed.
Duplex & Triplex Allocation Check
Six questions on how the costs of your building are split between the unit you live in and the units you let, whether the basis of that split is written down, how the building is held, which capital cost allowance class it sits in, and what any borrowed money was spent on. No fee shown.
1. Can you show how expenses are split between your unit and the rented units?
2. Is the basis of that split written down rather than carried in your head?
3. Do you know how your ownership of the building is characterised — sole, co-ownership or partnership?
4. Are whole-building costs recorded separately from costs confined to one unit?
5. Do you know whether your building sits in Class 1 or Class 3?
6. Can you show what every dollar borrowed against the building was actually spent on, refinancings included?
Free CPA Consultation for Duplex and Triplex Owners
Case Studies: Duplex and Triplex Accounting & Tax
Port Colborne — A Pre-1988 Triplex Written Down in the Wrong Class
The problem: A triplex in Port Colborne, brick, put up well before 1988 and bought by the present owner from the original family, had been depreciated in Class 1 at four per cent for as long as anyone could remember. Nobody had looked at the acquisition date. The owner lived in the ground-floor flat and let the two above, and the allocation had been done as a flat one-third on everything, roof and boiler and kitchen alike.
What we did: We established the acquisition date from the transfer and confirmed that most brick, stone or cement buildings acquired before 1988 belong in Class 3 at five per cent rather than Class 1 at four. The schedule was rebuilt from the acquisition date forward rather than corrected only in the open year, because the balance carried into every later year had been wrong. The allocation was then redone at unit level, with whole-building costs apportioned and single-unit work assigned where it fell, and the basis written down on one page.
The result:
- Building moved from Class 1 to Class 3 from the acquisition date
- Capital cost allowance schedule rebuilt rather than patched
- Allocation restated at unit level with the basis recorded
Petrolia — A Brother and Sister Told They Were a Partnership
The problem: Two siblings in Petrolia had inherited a triplex and had been filing for several years as a partnership on the strength of advice given to them at the outset. They were splitting the gross rent in half on each return and treating the arrangement as a business carried on together. Neither of them worked in the building, both simply received their share of what the property produced, and nothing in writing described an enterprise of any kind.
What we did: We applied the test rather than the label. The Canada Revenue Agency’s position is that where there is no business carried on in common there is no partnership, and that co-ownership of a rental property as an investment does not in itself constitute a partnership; a partnership needs each person to contribute money, property, labour or skill and each to expect a share of the profits or losses, tested against provincial partnership law. On these facts the arrangement was a co-ownership. The returns were restated so the co-owner section of Form T776 was completed and the gross rent for the entire property was reported at line 12599 undivided, with each share taken further down.
The result:
- Arrangement confirmed as a co-ownership on its own facts
- Gross rent corrected to the whole-property figure at line 12599
- Co-owner section of Form T776 completed for both siblings
Walkerton — A Refinancing That Had Paid For Something Else
The problem: An owner-occupied duplex in Walkerton had been refinanced, and the whole of the interest on the enlarged mortgage was being claimed against the rent from the upper unit. The owner’s reasoning was simple and wrong: the building secured the loan, so the building should carry the interest. In fact a substantial part of the money drawn out had gone on a vehicle and a family expense, neither of which earns income from property.
What we did: We traced the advance rather than arguing about a ratio. Paragraph 20(1)(c) permits a deduction for interest where money is borrowed and used for the purpose of earning income from a property or a business, and the use the funds were put to decides it; what secured the loan does not. The proceeds were followed from the lawyer’s statement through the bank account to what they actually paid for, and the deduction was brought back to the part of the borrowing that genuinely earns income. The remaining interest apportioned across the units in the same way as the original mortgage.
The result:
- Use of the refinanced funds traced to what they actually paid for
- Interest deduction reduced to the income-earning portion
- Apportionment across the units documented for later years
Our clear, efficient process ensures every step is transparent, building trust and long-term client relationships.
Kickoff (Document Request)
What we ask for first: the purchase documents showing when the building was acquired, the current leases for each let unit, the mortgage statements including any refinancing, the property tax and insurance bills, last year’s return and whatever allocation sat behind it, the invoices for any large job, and anything already received from the Canada Revenue Agency.
First 30 Days (Allocation Basis Set)
Floor areas or room counts are established for each unit, the basis of the split is written down in words, every cost in the year is sorted into whole-building, let-unit or owner-occupied, the acquisition date is checked against the capital cost allowance class, and the way the building is held is settled before any figure is entered.
Monthly Close
Rent posted unit by unit, invoices flagged on arrival as building-wide or confined to one unit, and the owner-occupied unit kept visibly separate. Ten minutes a month is what keeps the allocation an existing document rather than an April reconstruction.
Quarterly Planning Review
The capital versus current call on any large job is made while the invoice is fresh, the instalment position is checked once a first full year of rent is behind you, and the use of any new borrowing against the building is recorded at the time it is drawn rather than guessed at later.
Year-End Close & Filing
Form T776 prepared with the gross rent for the whole property at line 12599 and the co-owner section completed where it applies, the capital cost allowance figure chosen deliberately within the Regulation 1100(11) limit, the asset register rolled forward, and six years of records boxed up under section 230 with the allocation schedule inside them.
Get Your Duplex and Triplex Taxes Done Right Today
Affordable Pricing for Duplex and Triplex Owners
We believe in clear, upfront pricing so you know exactly what to expect. All fees include HST.
- Tax Preparation (Corporation) — From $400
- Tax Return Filing (Corporation) — From $400
- Tax Compliance Audit — FREE CRA audit support for our clients
- Tax Strategy — FREE for our clients
- Accounting Base Plan — From $100 per month
- Bookkeeping Management — Free for our Accounting clients
- Financial Reporting — Free for our Accounting clients
- Business Formation — Flat $35
- Incorporation Process — Flat $35
- Entity Setup Assistance — Flat $35
- Full-Service Payroll — From $125 per month
Payment is by Interac e-Transfer to info@gondaliyacpa.ca only. Security question: Not Applicable, as auto-deposit is enabled.
Meet Your Lead Duplex and Triplex Accountant
Your file sits with the two people below and stays there. They know which unit you occupy, what last year’s split was measured from, and the year the building first went onto the asset register.
What Our Clients Say
Over 1300 verified five-star Google reviews, and a fair share of them come from owners who arrived with the whole building treated as one undivided bucket.
Serving Duplex and Triplex Owners Across Ontario
A converted house with a flat upstairs, a purpose-built triplex from the 1950s and a legal duplex in a postwar subdivision raise the same two questions wherever the building stands. The owners on our books hold two and three unit buildings in Hamilton and Burlington, through Kitchener, Cambridge and Guelph, across Oshawa, Markham and Scarborough, around North York, Etobicoke, Brampton and Oakville, and down through Toronto, London, Windsor and Ottawa. None of it changes the order of work.
Toronto (ON)
55 Queen St E Ste 1205, Toronto, ON M5C 1R6, Canada
+1 (647) 212-9559
9:00 AM – 8:30 PM (Mon – Sun)
Mississauga (ON)
2100 Camilla Rd #716, Mississauga, ON L5A 2J8
+1 (647) 212-9559
9:00 AM – 8:30 PM (Mon – Sun)
Brampton (ON)
4 Starhill Crescent, Brampton, ON L6R 2P9, Canada
+1 (647) 212-9559
9:00 AM – 8:30 PM (Mon – Sun)
Scarborough (ON)
24 Clementine Square, Scarborough, ON M1G 2V7, Canada
+1 (647) 212-9559
9:00 AM – 8:30 PM (Mon – Sun)
Vaughan (ON)
19 Cabinet Crescent, Woodbridge, ON L4L 6H9, Canada
+1 (647) 212-9559
9:00 AM – 8:30 PM (Mon – Sun)
Oshawa (ON)
210 Durham St, Oshawa, ON L1J 5R3, Canada
+1 (647) 212-9559
9:00 AM – 8:30 PM (Mon – Sun)
Ottawa (ON)
2090 Neepawa Ave a314, Ottawa, ON K2A 3L6, Canada
+1 (647) 212-9559
9:00 AM – 8:30 PM (Mon – Sun)
Etobicoke (ON)
60 Stevenson Rd #1601, Etobicoke, ON M9V 2B4, Canada
+1 (647) 212-9559
9:00 AM – 8:30 PM (Mon – Sun)
Hamilton (ON)
70 Starling Dr, Hamilton, ON L9A 0C5, Canada
+1 (647) 212-9559
9:00 AM – 8:30 PM (Mon – Sun)
Guelph (ON)
1155 Gordon St, Guelph, ON N1L 1S8, Canada
+1 (647) 212-9559
9:00 AM – 8:30 PM (Mon – Sun)
Windsor (ON)
4387 Guppy Ct, Windsor, ON N9G 2N8, Canada
+1 (647) 212-9559
9:00 AM – 8:30 PM (Mon – Sun)
North York (ON)
150 Graydon Hall Dr #912, North York, ON M3A 3B2, Canada
+1 (647) 212-9559
9:00 AM – 8:30 PM (Mon – Sun)
Duplex and Triplex Accounting & Tax FAQs
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Duplex and Triplex Accounting & Tax Done Right.
One building, two or three whole self-contained units, and a return that has to say which costs attached to which of them. Allocation at unit level, on a basis recorded in words and accepted because it is reasonable — square metres or number of rooms — with whole-building costs apportioned and single-unit work left where it fell. The gross rent for the entire property at line 12599 on Form T776, with the co-owner details section completed and the share applied further down, because co-owners do not split the gross. The characterisation settled on the test rather than the label: no business carried on in common, no partnership, with the partnership law of the province as the reference and Form T5013 reaching only six or more partners or a partner that is itself a partner of another partnership. Class 1 at 4% for a building acquired after 1987 and Class 3 at 5% for one acquired before 1988, the half-year rule on net additions, and capital cost allowance kept inside Regulation 1100(11) at any figure from nil to the maximum. Interest under paragraph 20(1)(c) decided by the use the borrowed money was put to and not by what secured it. Rent exempt at one month or more of continuous occupancy, property taxes passed on under the lease exempt with it, and no purpose-built rental rebate on a duplex or a triplex. Records held the six years section 230 requires. AFFORDABLE flat fees, no hourly billing. Licensed CPA Ontario. 1300+ five-star reviews. 30-Day Money-Back Guarantee.