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What To Put on Tax Receipts as a Landlord? (In Canada)?


I own a condo in another city that I rent out. I rent it out privately, I do not go through the condo management office. I am giving my tenant individual receipts for each month of rent paid for tax purposes. Do I also need to give them a letter signed with my personal info and dated saying that I am the owner and how much they paid?

Or are signed receipts enough?

What else do I need to include to make sure they don't have issues with claiming their rent for tax purposes?

P.S. Thanks!

Spider's wrong. No T-slip is required at least in Ontario.

You need an official letter (letterhead is nice) indicating the renter's names, how much rent that they paid you in 2007, and finally sign it and put your contact information on it.

YOU HAVE TO GIVE THE TENANTS AN OFFICIAL "T4" SLIP.
THIS WILL HAVE TO INCLUDE HOW MUCH RENT THEY PAID AND HOW MUCH OF THE TAXES (WATER,SCHOOL.PROPERTY..ETC..) WERE PAID.
IT HAS TO BE AN OFFICIAL FORM,NOT BY HAND.
JUST ASK ANY ACCOUNTANT FOR THESE FORMS AND FILL IT OUT.

PS..YOU SHOULD HAVE DONE THIS BY FEB,29...SO HURRY

It depends on the province.

When I lived in Ontario my rent receipts were all I needed.

Now I live in Quebec and I'm issued a "Releve 4", an official form for income tax purposes. It has my Landlord's name and address. My name, my address and the amount of property taxes paid for my dwelling.

My landlord had to send a copy of the releve 4 to the government, as well as a couple other things... http://www.revenu.gouv.qc.ca/eng/particu... . Nowhere on the form does it have what I pay for rent each month, or how much I paid total for the year, because it doesn't matter (In Quebec). If the only month I paid rent for this dwelling in 2007 was in December, I would still be able to claim the total amount for the year. For all the good that would do me...I'd have to make so little for it to make a difference on the tax return (under $19,333) that I've never been able to claim it anyway.

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