When it comes to owning a rental property, it is crucial that you hire a professional to ensure you don’t miss out on important tax benefits, deductions, and exemptions.

The best evidence to support the use of a vehicle is an accurate logbook of business travel maintained for the entire year, showing for each business trip, the destination, the reason for the trip and the distance covered.

Businesses that are primarily construction-related (50% or more) and pay subcontractors for construction services must report payments that are $500 or more (including GST/HST) to the CRA using the Contract Payment Reporting System.