Taxes (T776)
8 min read
T776 Survival Guide: Maximizing Deductions for Canadian Landlords
Tax season doesn't have to be stressful. Learn which expenses you can legally deduct from your rental income.
David ChenCPA, Rental Specialist • June 20, 2026
Understanding Rental Income Tax
Every Canadian landlord must file a T776 Statement of Real Estate Rentals. Knowing what you can deduct is key to profitability.
Common Deductible Expenses
- Property insurance
- Interest and bank charges
- Maintenance and repairs
- Professional fees (legal, accounting)
Current vs. Capital Expenses
It's crucial to distinguish between a repair (current) and an improvement (capital). Capital expenses are added to the cost base of the property and depreciated over time.