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| *The Commerce Journal>>>Canada Taxes |
Can spouse claim all rental income on second property? |
We own a rental property with both of our names on title. My wife does all of the work. We can also show the downpayment came from her funds, if required. Can she claim all income/expenses, or must it be split 50/50? If so, she would also claim the full capital gain on the future sale of the property? I've asked CRA and received conflicting answers. As the property title is in both names, the income/expenses/capital gain are to be split 50/50. I agree with the one above. It has to be split 50/50. The income comes from the ownership of the property, not any work she might do towards it. i know for sure that whether spouse claims all or you split it the first time you claim it, the income has to be declared the same way every year. |
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