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Q: If a property belongs to A & B as stated in the Sales and Purchase Agreement, but only A is stated in the rental agreement as the landlord, would the rental income only be declared as A's income?

A: No, if the property is owned by both A & B, the rental income is considered as income for both A & B.

Wishing you plentiful tax savings!

Zen Chow

YYC Tax Guru

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