Hello,
Let's say I own a rental property, and made capital expenses in 2022. I am not interested in claiming CCA on those expenses; but want to use them to increase the ACB of the property when I eventually sell the property.
My question is do I need to claim these expenses in this year's filling, or do I only need to declare them in the year I sell the property?
Thank you for any help.
No, if you're not going to take CCA on your capital expenses, then you will add them to your ACB when you sell the property.
No, if you're not going to take CCA on your capital expenses, then you will add them to your ACB when you sell the property.
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