Rental income and taxes: What’s new for Canadian property owners in 2025

Canadians love their real estate and they love renting their properties to make some extra money. However, that comes with some tax audit risk and the need to stay in the know of current tax law. Here’s what you should be thinking about for your 2024 and 2025 income taxes, as well as the forms you may need.
What do you claim? Rental income or business income?When you earn income from the rental of a home, apartment, condo or other property, you will report both gross and net income on the