Investors and rental owners

As per CRA, you can deduct certain fees you incur when you get a loan to buy or improve your business property. You deduct these fees over a period of five years, regardless of the term of your loan. Deduct 20% (100% divided by five years equals 20%) in the current tax year and 20% in each of the next four years. The 20% limit is reduced proportionally for fiscal periods of less than 12 months.

 

For your specific question, we suggest you to contact CRA. Here is the link to contact them:

 

Contact the Canada Revenue Agency (CRA)
 

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