Tax questions? You ask lah! #216

Published: Wed, 05/07/25

Updated: Thu, 05/08/25

Tax questions? You ask lah!

Your weekly dose of tax knowledge - become tax savvy in just 2 minutes!

I am receiving a salary from my sole proprietorship. Is my salary subject to Monthly Tax Deduction (MTD) and required to be declared in Form E?

No, your salary from your sole proprietorship is not subject to MTD and you are not required to declare it in Form E because you are considered an owner, not an employee, hence the salary is considered a drawing.

I have two apartment units for rent. One unit is making profit while the other unit is making a loss, can the loss be offset against the profit?

Yes, the rental loss from one apartment unit can be offset against the rental profit from the other unit in the same year of assessment because they are from the same income source.

Wishing you plentiful tax savings!

Zen Chow

YYC Tax Guru

P.S. I've received a lot of tax questions, so now I am answering the frequently asked questions and sharing them with you weekly!

P.P.S. Do you want more tax saving tips? Because this is just the tip of the iceberg. https://bit.ly/free-webinar-en

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