My question is: Canadian-specific
QUESTION: We have an illegal basement suite in our home that we have just started renting out. We don't know if we should claim the income. If we claim the income we will have an extra $100 per month after taking off the expenses including the mortgage interest. Therefore I don't see the benefit
of claiming this income.
The expenses that I have taken into consideration are mortgage interest, taxes, utilities and I have only used 30% of these since this is the percentage of the house that is the basement suite.
