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Personal Tax Handbook - Rental Income & Deductions
INTRODUCTION TO SEMINAR & ADMINISTRATION
Introduction to Personal Tax Handbook Module 2 - Rental Income and Deductions (5:24)
Course note download - Certificates - Questions - Refunds (6:25)
How the course is laid out and how it works with future updates and content (3:46)
2.1 - INTRODUCTION TO RENTAL INCOME & OVERVIEW
2.1.01 - An overview of the issues most frequently encountered with rental income (6:07)
2.1.02 - Preparation and filing questions encountered on most rental income statements (8:28)
2.1.03 - The problems and decision making process when dealing with renovations (6:25)
2.1.04 - Keeping accurate track of ACB on rental properties for future tax minimization (5:30)
2.2 - RENTAL INCOME REPORTING
2.2.01 - Review of the T776 and rental income reporting on the T1 tax return (10:06)
2.2.02 - Reporting rental income and expenses when there are partners and spousal reporting (9:06)
2.2.03 - A look at the CCA rules for rental income and the special rules related to rental income (7:45)
2.2.04 - A look at recapture and terminal losses they apply to rental income (6:22)
2.2.05 - Reporting terminal loss and recapture examples on the T1 tax return (7:18)
2.2.06 - Providing clients with the advice they need to make a decision on the CCA claim (4:18)
2.2.07 - Claiming vehicle expenses against rental income - caution and pitfalls (8:45)
2.2.08 - Claiming travel expenses for rental properties - caution and pitfalls (5:11)
2.2.09 - Reporting rental income from basement apartments and vacation properties (7:46)
2.3 - COMMON CRA AUDITS - SOURCE OF INCOME & CAPITAL VS. CURRENT EXPENSES
2.3.01 - Rental as a source of income vs cost-sharing arrangements (5:55)
2.3.02 - Running a property in a commercial manner as a source of income (8:12)
2.3.03 - Is there a difference between the CRA older REOP test and source of income? (4:43)
2.3.04 - Current vs capital expense and the ongoing reviews and audits in this area (8:19)
2.3.05 - CRA guidelines vs court decisions and understanding the difference (5:47)
2.4 - RENTAL INCOME & COURT CASES OF NOTE
2.4.01 - Stewart vs. Canada - Landmark supreme court case on the source of income rules (9:05)
2.4.02 - Hustak Court Case - Issues with running two properties not being a source of income (5:56)
2.4.03 - Aon Court Case - A landmark decision in the capital vs current involving large write-offs (7:33)
2.4.04 - Lewin Court Case - Capital vs current case involving deck maintenance and repairs (6:54)
2.4.05 - DiCaita Court Case - Part 1 - Renovations and repairs coupled with source of income reassessments (8:21)
2.4.06 - DiCaita Court Case - Part 2 - Travel expenses for a property located out of the country (5:55)
2.4.07 - DiCaita Court Case - Part 3 - Deducting home offices expenses and office supplies (4:57)
2.4.08 - St Benedict Court Case - Can you adjust prior year returns to remove CCA claim (7:59)
2.4.09 - Deducting the cost of computer and other equipment against rental income - Is it possible? (4:15)
2.5 - PRACTICING SAFE RENTAL INCOME TAX
2.5.01 - Getting the information from the client and putting the ball in their court (4:34)
2.5.02 - Digging a little deeper and doing your due diligence with rental losses (5:30)
2.5.03 - Understanding the capital vs current challenges on client files (6:49)
2.5.04 - One strategy that may be effective for larger current expense deductions (5:32)
2.5.05 - Revisit previous example of vacation property or basement rental for safe tax (5:38)
CONCLUSION
Conclusion to Module 2 of the Personal Tax Handbook - Rental Income (1:38)
2.4.01 - Stewart vs. Canada - Landmark supreme court case on the source of income rules
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