Yes, you can claim these expenses as capital expenses. According to this Canada Revenue Agency (CRA) page Capital expenses – Special situations, "If you make repairs to your property because you want to sell it, or you make the repairs as a condition of sale, the repairs are capital expenses. However, we consider the repairs to be current expenses if they would have been made anyway and the sale was negotiated during the course of the repairs or after their completion".
For more information on capital, expenses visit this page of the Canada Revenue Agency: - Current expenses or capital expenses
Thank you for choosing TurboTax.
Sign In
Canada (English)
EN
