Rental Income taxed differently than regular income?

[Peter Richardson]

Hi all,

I'm trying to get a decisive answer on this: does the income you make from renting out gear (camera, editing suite etc) get taxed at a different rate than income you make from your labor? I have had friends in the film business tell me yes, but an accountant (who wasn't film savvy) tell me no. Anyway have an idea?

Thanks!

Peter

[Craig Chartier]

your taxable income is just a number -total earned for the year-regardless of the source, however, you can offset your taxable amount because you have depreciation on your equipment due to its age or service or repairs done to it over the year.. does that help?

[Peter Richardson]

Thanks Craig! That definitely answers my question.

Peter