Who it’s for
What’s included
- Rental income reporting (Definition: T776 Federal form for rental income and expenses. See the glossary and Definition: TP-128 Quebec form for rental income; the equivalent of the T776. See the glossary)
- Eligible expenses: property tax, insurance, maintenance, heating
- Mortgage interest
- Renovations: current or capital expenses
- Definition: Capital cost allowance A yearly deduction for part of the cost of a lasting asset, like a building, a vehicle or equipment. See the glossary
- Properties in Canada or abroad
Documents to prepare
Tick them off as you go. Nothing is saved or sent.
Missing a document? Call us and we’ll guide you.
Dates to watch
- Tax instalment · in 47 daysQuarterly payment, if you are required to make them.Add to calendar : Tax instalment, December 15, 2026
- Personal tax returns · in 6 monthsDefinition: T1 The federal personal income tax return, filed with the Canada Revenue Agency. See the glossary and Definition: TP-1 The Quebec personal income tax return, filed with Revenu Québec. See the glossary returns due, and any 2026 balance owing must be paid.Add to calendar : Personal tax returns, April 30, 2027
Frequently asked questions
Can I deduct my renovations?
It depends on the work. Repairs that restore the property to its original condition, like painting or fixing a leak, are generally deductible in the same year. Work that improves the property, like an extension or a new bathroom, is a capital expense, deducted over several years. We sort it out for you.
I rent out part of my home. Do I need to report it?
Yes. You report the rent and can deduct the share of expenses that relates to the rented part, based on floor area for example. We also help you protect your principal residence exemption.
Do I have to claim depreciation every year?
No, Definition: Capital cost allowance A yearly deduction for part of the cost of a lasting asset, like a building, a vehicle or equipment. See the glossary is optional. Claiming it lowers your tax today, but it can be recaptured when you sell. We work out with you what makes the most sense.
