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bschmidt1
New Member

What rental expenses can I claim when I rent out farmland?

for example utilities etc.
1 Best answer

Accepted Solutions

What rental expenses can I claim when I rent out farmland?

Here you can see an example of renting land for farming counts as rental income and same allowable expenses would apply. 

https://www.canada.ca/en/revenue-agency/services/tax/businesses/topics/rental-income/completing-form...

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3 Replies

What rental expenses can I claim when I rent out farmland?

Here you can see an example of renting land for farming counts as rental income and same allowable expenses would apply. 

https://www.canada.ca/en/revenue-agency/services/tax/businesses/topics/rental-income/completing-form...

What rental expenses can I claim when I rent out farmland?

You will need to claim the income as rental income and you can deduct property taxes as an expense.

Boxall16
New Member

What rental expenses can I claim when I rent out farmland?

The farm land we rent was gifted from family, with a mortgage registered against the property. A combination mortgage/LOC was secured to build a house on the property. Can interest expense be claimed against farm land rental?

 

Thanks