Renting out of your property is a commercial activity. Only your net income from your investment is taxable. Mortgage is NOT a cost. It is an installment toward your purchase of the property. You lose only the interest which is tax deductable.
Your gross rent includes net rent, GST, and TMI (property tax, maintenance and insurance). TMI can include repairment bills, utility bills you paid, bank charges, cleaning and management fees if you hire a superintendant, and any miscellaneous payments, such as accounting, lawyer, etc.. Anyway, you substract everything but mortgage from the rent you collected, (even substract your own motor vehicle expenses on managing the property), whatever left will be your investment return before tax.
Your gross rent includes net rent, GST, and TMI (property tax, maintenance and insurance). TMI can include repairment bills, utility bills you paid, bank charges, cleaning and management fees if you hire a superintendant, and any miscellaneous payments, such as accounting, lawyer, etc.. Anyway, you substract everything but mortgage from the rent you collected, (even substract your own motor vehicle expenses on managing the property), whatever left will be your investment return before tax.