# Where should I declare my income?



## fswang (Aug 26, 2010)

I am an Ontario residence, but having rental income from my second property located in Quebec. So my question is to which province should I report my income and how? The rental income is from business and I understand that I need to report the net income after related expenses. A big thanks!


----------



## GeniusBoy27 (Jun 11, 2010)

It's all dependent on your principle property. So I think you should report it in Ontario.

Take your gross income and minus the appropriate expenses (property tax, maintenance, interest fees from the mortgage, etc.) and report that.


----------



## stardancer (Apr 26, 2009)

Where you reside on 31 December is the province that determines which tax return you complete.
Your residence is in Ontario, so you report from Ontario, even though your rental property may be in another province.
Report it on a statement of Real Estate Rental Income as usual.


----------



## humble_pie (Jun 7, 2009)

imo it depends upon the legal status of his business situated in quebec.

is he carrying on business in quebec under his own name or as a registered entity. In that case he would report as ontario but submit the usual detailed annexe statement of business revenues & expenses, including rental income & related expenses, for the quebec business.

if his business is incorporated in quebec then a quebec corporate return for the business is required.


----------



## Young&Ambitious (Aug 11, 2010)

Assumming the rental property is owned by yourself as an individual then you will declare the income from it in your province of residence. If business income you will have to declare the entity as operating in "multiple jurisdications" and pay taxes to multiple provinces. Your tax software will calculate the amount owing to each but likely will be collected together by Receiver General unless in Quebec, Alberta...


----------

