[quote user=wader]Property Management - how much...10%? I do it myself so do I just claim that personally as an income?
The way you've worded this question is the reason you got the "get an accountant" advice, which is good advice nonetheless. What benefit do you see coming from doing that? If you claimed an expense against your rental income, and then paid it to yourself as self-employment income, what would you be hoping to achieve? You would get the "benefit" of being able to pay EI/CPP (if you're not already past the threshholds) at ~double the rate, since you'd have to pay the employer portion as well.
[quote user=JoeRagona]But at the same time, if you are doing property management, then the best thing would be to start up a company and pay that company (which is you) the fee. Eventually, this will go to a third party company anyway. As for the amount, yes, it has to be in line with what the market bears or you will set off another red flag.
You could certainly do this, but it depends on the size of your operation. If you have two rental properties, is it worth setting up a corporation (the reason this is silly as a sole prop is above) to run a management company and paying for the professional services required to do so? Maybe if you're planning on eventually becoming a property manager.
Ultimately, there isn't enough information in your OP to give you much cogent advice other than to get an accountant, so it probably doesn't make sense to lash out at someone who was just trying to help. Why not take it in the spirit it was offered? (IE someone who's not getting paid taking time out of their day to try to help you)
Regards,
Michael