I have booked an apartment with intention of renting out. As the closing date is nearing I'm in dilemma, should I buy it on my name or on my incorporation name ( I have a numbered incorporation registered in Ontario) . Can someone share with me pros and cons of buying property for rent, on personal name and company name?

Stargaze,

I strongly suggest you to seek advice from Chartered Accountant. However, you may find this information useful:

http://www.taxperts.on.ca/content/tax_p_main.asp#rental

Good Luck!


P.s. Where did you purchase the condo?

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Rajeev Narula, Broker, REALTOR®
ACE TEAM REALTY INC., Brokerage
10 Kingsbridge Garden Circle, Suite 704
(Opp Square One - HWY10/403)
Mississauga, ON L5R 3K6
Bus: 1-888-355-3155 Ext. 300
Fax: 1-888-443-3155
Email:
Web: http://www.RAJEEV.ca" rel="nofollow">LINK