With a rental property, what expenses will the government allow? For instance, let`s say you put in 8% for vacancy allowance, and 10% set aside for repairs. And let`s say you had no repairs for the year, and no vacancies for the year. Will the amount in the bank at the end of the year be assessed as income and taxed, if any? Or are they legitimate expenses?
Is there any advice anyone would like to add for rental property in regards to expenses?
Is there any advice anyone would like to add for rental property in regards to expenses?