Maybe you own a rental property as an investment, or you rent out your basement suite to help with the mortgage. Either way, you want your rental property to be as profitable as possible, right? One mistake many landlords make is not including rental property tax deductions they’re eligible for when filing their taxes. But that’s leaving money on the table.

To unlock the hidden potential of your rental property, you need to understand how rental property expenses work in Canada and how to claim them on your tax return. Our guide lays out the basics and some common deductions.