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Renting Out Current Home in Canada

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  • 21-10-2019 2:43am
    #1
    speri_mental
    Registered Users Posts: 30 ✭


    Hi all. I'm sure this question has been asked a lot before but I've spent the last couple of hours trying to find some info to no avail....

    I've been living in Canada nearly 9 years now and myself and my (Canadian) hubby have decided to make the move back home within the next 1-2 years.
    We are currently renewing our mortgage here in Canada and are looking at our options.
    Ideally we would like to keep our current home here in Ontario and rent it out while we rent a place back home in Ireland. We would love to buy a place as soon as possible in Ireland but we are unsure where we'll both be working.

    Has anyone rented their home out before in Canada? If so, what tax would we expect to pay on the income received? We are both a bit clueless when it comes to finances! We just down want to be throwing money down the drain.
    Thanks!
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