Form detail
CRA Form T776
Statement of Real Estate Rentals
Country
Canada
Revision year
2024
Methods
paper, efile
Updated
2026-05-20
Statement of Real Estate Rentals
Schedule used by Canadian taxpayers to report gross rental income, expenses, and net rental income or loss from real estate rental activities, attached to the T1 personal return.
Who must file: Individuals who earned rental income from real or immovable property in Canada or abroad. Partnerships report on T5013, not T776.
Practical overview
Canadian landlords commonly underclaim Capital Cost Allowance (CCA) or, conversely, claim CCA in a year that creates a rental loss against employment income (which is disallowed under regulation 1100(11)). Foreign-owner rental income is subject to non-resident withholding under Part XIII unless the property owner elects to be taxed under section 216. The principal-residence exemption can be partially lost if a personal-use property is converted to rental without a section 45(2) election.
Practical steps
- Separate gross rents and per-class expenses (insurance, taxes, repairs, utilities, mortgage interest, motor vehicle).
- Apply the personal-use proportion if the property is part-rented and part-personal.
- Compute optional CCA by class; do not claim CCA if it would create or increase a rental loss.
- Allocate net income or loss among co-owners or partners per their ownership interest.
- If you are a non-resident, consider a section 216 election and Form NR6.
Due-date notes
File with T1 General by the individual's tax return deadline.
Timing: April 30 (June 15 if self-employed; balance due April 30)
Penalty snapshot
Late-filing penalties under section 162 of the Income Tax Act; standard 5% plus 1% per month, with higher rates for repeat offenders.
Related forms
Related citations
Computed from the cross-reference graph. Links open the related entity on this site.
This entry cites
- FormCRA T1
Primary sources
- T776 Statement of Real Estate Rentals - Canada.caVerified 2026-05-20
- T4036 Rental Income Guide - Canada.caVerified 2026-05-20
Important disclaimer
This library is for general tax education only. Always verify filing obligations, due dates, and tax consequences against the cited primary source or with a qualified tax professional.