Deductions You Might Be Missing
Under CRA rules, reasonable expenses directly related to your rental property are deductible against rental income. A few are easy to miss — these are the ones most often overlooked:
- Phone and internet — The portion used for managing rental properties is deductible
- Software subscriptions — Property management software, accounting tools
- Home office expenses — If you manage rentals from home, deduct proportional utilities, internet, insurance
- Advertising — Listing fees on Kijiji, Facebook, rental platforms
- Vehicle expenses — Gas, insurance, maintenance for driving to properties (rental-use portion)
- Accounting and legal fees — Tax preparation, legal consultation, paralegal fees
- Minor repairs — Replacing faucets, locks, light fixtures, and other routine maintenance
- Travel and accommodation — If your rental property is out of town, travel costs for management
- Bank fees — Monthly fees and transfer charges on rental-related accounts
- Training and education — Courses and seminars related to landlord management
Tip: Keep all receipts for at least 6 years. The CRA can audit you up to 6 years after filing. Deductions without receipts may be disallowed.