Buying Real Estate In A Corporation Vs. Your Personal Name
The Canadian Real Estate Investor
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Depreciation - What You Can Deduct From Rental Income
The Ag Income Tax Act allows you to depreciate that asset over a period of time. Land, because land doesn't move, it doesn't necessarily deteriorate in condition is not depreciable. But your fixtures, so anything that you're putting into the building would be considered class eight fixtures and those are depreciable at 20% per year. Now once you look at that rental income, less of depreciation, less of your operating expenses, that taxable income line is what you're actually going to be taxed on.
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