Rental Property Tax Services in Mississauga
Expert T776 rental income filing, landlord tax planning, UHT compliance, and real estate tax strategies for Mississauga property owners. BOMCAS Canada maximizes your rental property deductions and keeps you CRA-compliant.
Rental Property Tax Preparation in Mississauga
Mississauga's real estate market is one of Canada's most active, with thousands of landlords, multi-property investors, and short-term rental operators who need expert tax guidance. Our Mississauga rental property tax team ensures accurate T776 filing, maximum legitimate deductions, and full CRA compliance for all types of rental property owners.
T776 Rental Income Reporting
Complete preparation and filing of Form T776 for all Mississauga rental properties.
Rental Expense Deductions
Maximize all eligible deductions including mortgage interest, repairs, insurance and management fees.
Capital Cost Allowance (CCA)
Strategic CCA planning to optimize depreciation timing and minimize taxes on rental income.
Short-Term Rental Tax (Airbnb)
HST obligations, income reporting, and tax planning for Mississauga short-term rental operators.
Underused Housing Tax (UHT)
UHT return preparation and compliance for Mississauga property owners with UHT filing obligations.
Multi-Property Portfolio Tax
Coordinated tax strategy for Mississauga investors with multiple rental properties or real estate portfolios.
Frequently Asked Questions
Form T776 (Statement of Real Estate Rentals) must be filed with your T1 personal income tax return if you received rental income from a Canadian property. You must report gross rents received and can deduct eligible expenses such as mortgage interest, property taxes, insurance, utilities, repairs, advertising, management fees, and CCA (depreciation). All Mississauga landlords with rental income must file T776.
Eligible rental property deductions for Mississauga landlords include: mortgage interest (not principal), property taxes, insurance premiums, utilities paid by you, repairs and maintenance, advertising costs, property management fees, legal and accounting fees, travel expenses to inspect the property, and Capital Cost Allowance (CCA/depreciation). You cannot deduct personal use expenses or the mortgage principal repayment.
Generally, residential rental income is exempt from HST. However, commercial property rentals, short-term rentals (Airbnb/VRBO), and mixed-use properties may be subject to HST. If you rent commercial space, you may be required to register for HST and charge HST to your tenants. The Underused Housing Tax (UHT) may also apply to some residential properties. Our team will assess your specific situation.
The Underused Housing Tax (UHT) is an annual 1% federal tax on the value of residential properties in Canada owned by non-resident, non-Canadian owners that are considered vacant or underused. Some Canadian owners (corporations, trusts, partners) may also have UHT filing obligations even if exempt from paying tax. Penalties for non-compliance are significant ($5,000–$10,000 minimum). Our Mississauga team handles UHT returns and compliance.