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Is labour to instal new flooring in an income property a rental expense? or is it a capital expense?
March 31, 2024
11:28 AM
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Investors and rental owners
It can be treated as either depending on the situation. You can follow this link to see how the Canada Revenue Agency (CRA) defines current and capital expenses.
We suggest you to contact the CRA for the clarification.
Thank you for choosing TurboTax.
March 31, 2024
12:26 PM