Put everything about the rental into your company account. This way, you can deduct some costs: portion (percentage of rental area over total floor area) of all your housing maitenance costs, including insurance, property tax, repair, utilities, mortgage interest, banking, advertising (100%), etc. Only the net income need to be reported as your income. For details obtain a "Business and Professional Income Guide" from Canada Custom and Revenue Agency's website www.ccra.ca. You need to keep all the receipts to support your claim.