oh oh! time of the year (deductibles you may not know about)

“there are only two things in life that are certain – death and taxes”                                                           – unknown

Time of the year to file your taxes! I usually just claim the usually stuff, NSman, SRS, blah blah. Then, I came across this article by Ryan Ong:regarding income tax deductibles that you may not know about. I just regurgitate the article below,  in block quotes. Read below to find out more.

Personally, i found point #2 quite intriguing. I didn’t realise that you can claim rental income and stuff such as: Utility expenses that the tenants didn’t reimburse you for, including Internet access., fees paid to the property manager, if there is one (this includes property agents) – **ps: not sure if this include the one/half month commission to the agent? 

For those with a second property, depending on how much your property is being rented out for,15%  seems quite a hefty deduction, it should at least bring you to the next lower tax bracket? …

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