Do you set aside a % of your rental income for tax?

[Siobhan D.]

Hi All,

Wondering if in general investors are setting aside a % of their rental income for income tax. I realize this will differ greatly depending on personal income/location etc. but curious (especially in Ontario, Canada) if with write offs/depreciation you owe money at the end of the year for taxes. For reference, our family would be in a mid-to low high tax bracket in Ontario and are buying in an inexpensive market (compared to GTA) with high cash flow. 

Any help or direction to great resources appreciated!

Thanks! :)