Your tax accounting can be made much easier if you have good records and systems.  Keeping good records will save you a lot of time – and potentially a lot of money.

You need to keep all statements, receipts and records of transactions to prove expense claims on your investment property.  Opening a separate bank account for rental expenses is also a good idea, to keep personal and investment expenses clearly identified.

In the next few pages we’ll look at some tax accounting basics. Tax can be complex, so we strongly recommend getting professional advice and assistance.

This material is for information purposes only. You should seek professional advice related to your individual circumstances. While The National Bank has taken care to ensure that this information is from reliable sources, it cannot warrant its accuracy, completeness or suitability for your intended use. To the extent permitted by law, The National Bank does not accept any responsibility or liability arising from your use of this information. Our lending criteria, terms, conditions and fees apply.