Probably not. If I understand you correctly, you have Rental Property which you would like to report as Business Income and Employment Income (from a T4 likely).
- You do not report Rental Income as Self-Employment on a T2125 - Statement of Business Activities
- Your Rental Income should be reported on a T776 - Statement of Real Estate Rentals. If you have a loss on this statement already, (expenses exceeded income) you cannot use your CCA to create or increase this loss.
- If you do have a loss on the T776 that is not from CCA, this loss will carry over to the T1 General and be deducted from your Employment Income to arrive at Total Income.
