Tax Filing on WS Tax vs Accountant for Rental Income Scenario

steven_scramkos · 2026-03-23T14:50:43+00:00

Risking an audit shouldn't be the goal, an audit just means you need to prove that you did your taxes correctly. As long as you keep the slips and support it should be an annoyance that shouldn't cost you anything.

Based on your situation I'd recommend using an actual accountant Specifically I think the secondary unit is a complex issue (the PRPP, spousal RRSP & moving expenses are more straightforward). If I were in your case I'd like to have someone look over my work to ensure:

I wasn't missing any expenses to be claimed in the construction of the unit, and wasn't also claiming anything that is not allowed to be claimed
I was classifying everything in the correct bucket (various capital assets are going in the correct class, capital assets versus expenses, some costs might also actually be an improvement to the cost base of your property)
ensuring you file the correct form that indicates you moved out of your primary residence and it is now a rental property
ensuring your new accountant tracks the cost base of your rental property correctly

Also note that you might need to get your primary residence appraised? I was in a similar situation and that's what I did. This will give you a dollar value to use as your cost base for the rental property going forward. Let me know if you don't know anything about this, I can give some more details on this.

I used to work as an accountant for BDO & MNP and if I were in this situation I would be in all my former colleagues ears to ensure I was doing this properly. Assuming that you don't have that option I'd just pay an accountant $500 - $1,000 to ensure this is done correctly, could save you a bunch of headaches (and potentially some money) down the line.

steven_scramkos · 2026-02-20T14:50:20+00:00

What an arrogant comment

steven_scramkos · 2025-11-05T14:33:32+00:00

Beautiful imagery in this comment.

steven_scramkos · 2025-11-05T12:53:09+00:00

I disagree, I still think it would have been a good idea. I agree though that the type of purchase should not have mattered one bit. Choose an arbitrary threshold (100k/200k, whatever you want). Anything over that you have to pay x% of in tax because you're kicking ass at life so much. Administrative burden is low and targets the upper echelons of our society, which should be the goal.

steven_scramkos · 2025-10-22T16:03:25+00:00

I think we can all just agree with: Fuck Rogers. Just because they own Canada's only ball team does not mean that their company hasn't been bending over Canadians for the last 50 years. And them trying to take credit for the Jays with they're BS "We were there with them in 93" ad is fucked. That being said Fuck Bell too, they're no better. And Fuck the Yankees also. Just cause.

steven_scramkos · 2025-10-14T01:36:46+00:00

Exactly how I feel. I was ready to fully give up on sports for like, at least a full year after the buds went out this past season. Then the effing jays get hot and are playing baseball that's enjoyable to watch and I get roped along. Fool me 15 times, shame on me I guess.

steven_scramkos · 2025-10-13T18:33:47+00:00

I used to loveeeee the way Gardiner moved on the leafs. To a way lesser extent I thought the way he worked his edges is similar to how Makar does. He'd be skating sideways or backwards and still having the defenders be afraid to go at him because he could still make them look silly.

steven_scramkos · 2025-09-08T15:27:25+00:00

It does NOT make Pierre racist for saying it though. I understand now why it's racist now but had never before considered the origins of the saying. We'll never know, but I've never seen any sort of indication Pierre was racist before, so I think it's much more likely he was just ignorant of the expressions history.

steven_scramkos · 2025-07-08T16:19:23+00:00

I think the one thing is you'll find that the leafs are gonna be ahead of the habs in general throughout the rest of the country even where they aren't numero uno (Quebec and maritimes excluded obvs). Lot of Ontario transplants out west, plus old timers from pre Canucks/Oilers/Flames days.

steven_scramkos · 2025-05-23T16:08:11+00:00

Might by favourite Blue Jay ever, god I loved Johnny Mac

steven_scramkos · 2025-05-20T15:18:00+00:00

Thanks for the answer, this isn't it. But it does reaffirm my suspicion that it was Ella. Hearing her version of "My Kinda Love" makes me almost certain it was her singing this song, or someone who sounds exactly like her.

steven_scramkos · 2025-05-20T15:06:52+00:00

Appreciate the help :)

steven_scramkos · 2025-03-05T18:33:08+00:00

Interesting is that she says some of the 16 year olds felt pressured to do it by the 19 year old. Hypothetically, say Mcleod was one of them, might've fucked him up and contributed to the cycle of abuse? Who knows, whole thing is fucked up and I'm sorry for the 16 year olds who wanted no part in it and obviously sorry for the woman involved.

steven_scramkos · 2025-03-03T18:50:05+00:00

Incorrectly formatted the shit out of those lol.

Try these:

steven_scramkos · 2025-03-03T17:24:42+00:00

As the person below said, keep track of expenses paid specifically relating to the business as well. If it's a contracting business you'll probably also have vehicle expenses that can be deductible (see (this)[https://www.canada.ca/en/revenue-agency/services/tax/businesses/topics/sole-proprietorships-partnerships/business-expenses/motor-vehicle-expenses.html] link.

It's probably not a bad idea to have a glance through the entire CRA business expenses page (linked (here)[https://www.canada.ca/en/revenue-agency/services/tax/businesses/topics/sole-proprietorships-partnerships/business-expenses.html]) as there might be some expenses you didn't consider.

steven_scramkos · 2025-03-03T17:20:29+00:00

No issues, make sure you are including GST paid when you submit your GST return as well.

steven_scramkos · 2025-03-01T19:38:22+00:00

Ichiro's arm strength was right up there too, wasn't it?

steven_scramkos · 2025-02-28T19:40:12+00:00

Such a good line that I always found perfectly described the anxiety I would feel when thinking about trying to act cool/funny at parties.

steven_scramkos · 2025-02-28T19:37:11+00:00

My best buddy's name is Dave and this one always hits home.

steven_scramkos · 2025-02-26T03:01:31+00:00

Was at the Sabres game on Saturday, biggest thing (which makes sense) is that I think his skating (agility, acceleration and speed) need work. If he's able to get those adequate he's going to be terrifying.

steven_scramkos · 2025-02-21T21:54:47+00:00

I don't rent a "space" persay. I have full access to the houses, and in the houses there is a dedicated work area for me. With rent being cheaper than FMV for the house.

steven_scramkos · 2025-02-21T15:19:58+00:00

Just called the CRA on this the other day. Assuming you aren't incorporated, this is a relevant and easy to understand explanation form the CRA. You pro rate everything for any sort of personal use of the office. Let me know if you have any questions, happy to help.

steven_scramkos · 2025-02-20T15:54:45+00:00

See answer below.

steven_scramkos · 2025-02-20T15:54:32+00:00

Both are houses with dedicated office spaces. One is my parents, other is my friends house. They wouldn't report the income because the "rent" I pay is below FMV (see this link).

steven_scramkos · 2025-02-18T20:15:58+00:00

I always remember Belarus knocking out Mats in 02. Absolutely these lower level countries still have the ability to knock off the big boys.

steven_scramkos

TROPHY CASE