Can I claim condo fees for a rental property?

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As per CRA, if you earn rental income from a condominium unit, you can deduct the expenses that you would usually deduct from rental income. You can also deduct condominium fees that represent your share of the upkeep, repairs, maintenance, and other current expenses of the common property. For more information, go to Interpretation Bulletin IT-304, Condominiums.

You claim rental income and expenses on Form T776. Include rent collected from tenants as rental income in the current tax year. Claim tax deductions for any expenses related to your rental property. Common rental property expenses include home insurance, heat, hydro, water, and mortgage insurance. Claim the full amount of expenses if it is for a rental property, but only a percentage if it is for part of your principal residence.

For more information, please see:

• Other rental expenses

• Claiming Expenses on Rental Properties

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