Rent out a property? Tag your rent and expenses, link the building for depreciation, and LQID builds your T776 — Statement of Real Estate Rentals. Rental stays separate from your business, with the CCA rules applied for you.
Tag it once — the statement, the CCA cap, and your tax set-aside all follow.
Record rent on Deposits and costs on Expenses or Bills, and pick the property. Rental income posts to its own account — never mixed with your business books.
Residential or commercialLink the building (Class 1) and LQID adds its CCA to the property — capped by the CRA rule so depreciation can't create or increase a rental loss.
CCA can't create a lossOne click renders the Statement of Real Estate Rentals — gross rent, each expense by CRA line, CCA, and net rental income — ready to print or hand to your accountant.
Printable T776Your net rental income flows into your real-time tax reserve automatically — taxed as ordinary income, with no CPP, so what's left is truly yours to spend.
Real-time Safe-to-SpendRental income and expenses live in their own accounts, so your business profit and your rental profit never get tangled.
The CCA loss restriction, ownership splits, and residential-vs-commercial HST — handled, so your T776 is right.
Every figure is an estimate to guide you — always verify your T776 with your accountant before you file.
The CRA's Statement of Real Estate Rentals — where you report rental income, expenses, and CCA to work out your net rental income for your T1.
Yes, on the building (not the land) — but CCA can't create or increase a rental loss. LQID caps it for you automatically.
Residential rent is HST-exempt; commercial rent is taxable. Mark the property commercial and LQID adjusts the defaults.
Set your ownership percentage and LQID reports your share of the net rental income.