TAX QUESTIONS? YOU ASK LAH!

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Q: A father owns a property, but he rented out the property to his son and signed a tenancy agreement. Is this approach correct?

A: Yes, this approach is correct, even though this property is rented out to a family member, proper documentation should be prepared, and the rental should be charged at market rate. 


Wishing you plentiful tax savings!

Zen Chow

YYC Tax Guru 

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