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Returning Member
posted Oct 30, 2019 2:59:43 PM

I have a rental property, and there was error and I had to pay interest and penalty to strata, can this be claimed as expense?

0 2 895
2 Replies
Level 7
Oct 30, 2019 2:59:44 PM

No. Any interest that you are required to pay to the CRA is not tax deductible.

Returning Member
Oct 30, 2019 2:59:46 PM

The Interest and penalty was paid to the strat, the company that maintains the building that I am renting out.... Can I claim these?