Investment & Rental Income Tax Reporting
Accurate Tax Filing for Investors & Rental Property Owners in North Vancouver, BC
If you earn investment income from stocks, dividends, interest, or rental income from properties, the Canada Revenue Agency (CRA) requires you to report all earnings on your T1 Personal Income Tax Return. Understanding how capital gains, rental expenses, and investment deductions affect your tax bill is essential to maximizing your tax savings.
At Westview Accounting & Tax Services Inc., we provide expert tax filing for investors and landlords, ensuring you report your earnings correctly, claim eligible deductions, and minimize taxes owed.
Who Needs to Report Investment or Rental Income?
Investment Income (T5)
If you earn interest from savings accounts, GICs, or dividends from stocks, you will receive a T5 slip.
Mutual Funds & Trusts (T3)
If you receive distributions from mutual funds, ETFs, or real estate investment trusts (REITs), you must report them.
Stock Transactions (T5008)
If you sell stocks or securities, the CRA requires you to report capital gains and losses.
Rental Income (T776)
If you rent out houses, condos, or commercial properties, you must report rental income and claim property-related expenses.
Cryptocurrency (Shedule 3)
If you buy and sell cryptocurrency, transactions must be reported as business income or capital gains/losses.
Foreign Assets (T1135)
If you own foreign rental properties or overseas investments valued at over $100,000 CAD, the CRA requires reporting.
Tip: Even if you don’t receive a tax slip, you are still required to report all taxable income from investments and rental properties.
Understanding How Investment &
Rental Income is Taxed
Understanding How Investment & Rental Income is Taxed
Capital Gains vs. Business Income (Schedule 3)
If you sell stocks or property, 50% of capital gains are taxable, but frequent traders may be taxed as business income.
Dividends & Tax Credits (T5)
Eligible dividends receive a gross-up and tax credit, lowering taxes owed.
Rental Income & Deductions (T776)
Landlords can deduct mortgage interest, property taxes, repairs, insurance, and management fees.
Depreciation (CCa)
Property owners may claim depreciation on buildings (CCA), but this can trigger capital gains tax upon selling.
Foreign Investments (t1135)
Investments in foreign stocks, rental properties, or bank accounts must be disclosed.
Tip: Understanding investment and rental income taxation can help minimize taxes and maximize deductions.
What Investment & Rental Expenses Can You Deduct?
For Rental Income (T776 – Rental Expenses Report)
Mortgage Interest & Property Taxes
Deductible expenses for rental property owners.
Repairs & Maintenance
Expenses for painting, plumbing, HVAC repairs, and renovations.
Property Insurance & Condo Fees
Deductible for landlords renting out their property.
Legal & Property Management Fees
Costs for tenant disputes, lease drafting, and property managers.
Utilities & Advertising
Deductible if the landlord pays for utilities or advertises rental listings.
For Investment Income (T5, T3, T5008 Tax Filings)
Investment Advisor Fees
Management fees for stock portfolios and mutual funds.
Interest on Investment Loans
If you borrowed money to invest, interest payments may be deductible.
Accounting & Legal Fees
Costs for financial planning and tax reporting.
Tip: Claiming all eligible deductions helps lower your taxable income and increase tax refunds.
What Investment & Rental Expenses Can You Deduct?
For Rental Income (T776 – Rental Expenses Report)
Mortgage Interest & Property Taxes
Deductible expenses for rental property owners.
Repairs & Maintenance
Expenses for painting, plumbing, HVAC repairs, and renovations.
Property Insurance & Condo Fees
Deductible for landlords renting out their property.
Legal & Property Management Fees
Costs for tenant disputes, lease drafting, and property managers.
Utilities & Advertising
Deductible if the landlord pays for utilities or advertises rental listings.
For Investment Income (T5, T3, T5008 Tax Filings)
Investment Advisor Fees
Management fees for stock portfolios and mutual funds.
Interest on Investment Loans
If you borrowed money to invest, interest payments may be deductible.
Accounting & Legal Fees
Costs for financial planning and tax reporting.
Tip: Claiming all eligible deductions helps lower your taxable income and increase tax refunds.
How Westview Ensures a Smooth Investment & Rental Tax Filing Process
Accurate Income &
Capital Gains Reporting
We ensure all T5, T3, T5008, and T776 tax slips are accurately reported.
Maximizing Tax Deductions
& Write-Offs
We identify all eligible deductions to reduce taxes on investment or rental income.
Capital Gains Tax
Optimization
We apply strategies to reduce capital gains tax liability, including tax-loss harvesting.
CRA Compliance & Foreign
Asset Reporting
If you have foreign investments or rental properties, we ensure proper T1135 reporting.
Audit Protection &
Documentation Support
We ensure your records are CRA-compliant
and audit-proof.
Year-Round Tax Planning & Investment Strategy
We offer investment tax planning to help you optimize future tax filings.
Why Work with Westview Accounting & Tax Services Inc.?
At Westview Accounting & Tax Services Inc., we combine deep expertise with personalized service. Our team takes the time to understand your unique financial situation and offers tailored advice to ensure your return is accurate, compliant, and optimized for maximum refunds. We don’t just file your taxes—we help you plan smarter for the future. Whether you’re a newcomer, business owner, or retiree, you can trust us for clear guidance, strategic savings, and peace of mind all year long.
Experienced accountants
Transparent, upfront pricing
Professional review of all tax documents
Personalized advice for your financial goals
Convenient online or in-person filing options
Westview Accounting provides trusted accounting, tax, and bookkeeping services across North Vancouver and Surrey. We help individuals and businesses stay compliant, informed, and financially confident.