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- Co-ownership in itself doesn’t constitute a partnershipIf you own a rental property with one or more persons, the CRA considers you to be a co-owner1. Co-ownership in itself doesn’t constitute a partnership, so you must determine if a partnership exists21. If you are a co-owner and a partnership exists, you may have to file a slip T5013 (Statement of Partnership Income), depending on income and assets2.Learn more:✕This summary was generated using AI based on multiple online sources. To view the original source information, use the "Learn more" links.Most of the time, if you own the rental property with one or more persons, the CRA considers you to be a co-owner. For example, if you own a rental property with your spouse or common-law partner, you are a co-owner. In some cases, if you are a co-owner, you have to determine if a partnership exists.www.canada.ca/en/revenue-agency/services/tax/b…If you’re a co-owner, you must determine if a partnership exists. Co-ownership in itself doesn’t constitute a partnership, so check applicable laws for your territory or province, or consult CRA. If you’re in this category, you may have to file a slip T5013 (Statement of Partnership Income), depending on income and assets.turbotax.intuit.ca/tips/owning-a-rental-property-with …
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WEBNov 14, 2019 · If you’re a co-owner, you must determine if a partnership exists. Co-ownership in itself doesn’t constitute a partnership, so check …
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WEBNov 8, 2023 · The Canada Revenue Agency (CRA) considers a partnership to be an association of two or more people cooperating in the operation of a business. Each partner contributes to the business, …
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