I am moving to Canada, BC this year and understanding taxation is rather difficult to understand. I have an apartment in Europe which I am meaning to rent out. The tax in my country on rental property is 10% flat.
As I understand, in Canada I have to pay tax on my worldwide income as a resident. So how much am I required to pay in taxes for renting out my European apartment? I am not talking about deductions, but just flat percentage rate.
My salary will be approx 135 000 CAD a year and around 50 000 CAD bonuses. I want to rent my apartment for approximately 1000 CAD a month with ~17 CAD in mortgage payments each month.