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Where under rental income can I add license fee such as amount paid for building permits in Ontario ?
I only see option for professional fee, but not for license . Where can I claim this ?
April 17, 2024
3:57 AM
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Investors and rental owners
If you had to get a building permit to build or upgrade the rental unit, then this would be a capital cost, and capital costs can't be claimed as expenses. You would either add the building permit costs to the adjusted cost base (ACB) of the property when it is sold, or enter it under capital cost allowance (CCA).
April 17, 2024
12:30 PM