stevec424
Returning Member

Troubleshooting

Thanks for the information.

One of my concerns was that it's probable that I won't make a profit on this rental in the near future, and CRA notes in your first link that "You cannot claim the expenses for renting part of your property if you have no reasonable expectation of making a profit."

 

An ancillary question has occurred to me - will I be able to claim the principal residence exemption on the property when I come to sell it, or will I need to pay capital gains on the portion of the property used as a rental?

 

Thanks again