We bought a new house so my wife could run her business from home. We had to redo the driveway so her clients could park there. We were only able to get it half done this year (it's gravel) and will finish it this spring. We also had to purchase a lawn tractor and snowblower in order to clear it for her clients (It's a massive lot). Can I claim both the driveway and snowblower/tractor as business expenses and if so, where? If we didn't have the business, I wouldn't have needed either.
The expansion or addition of a driveway/parking lot is considered to be a Capital Expense. You are allowed to claim Capital Cost Allowance (depreciation) at a rate of 8%. This would be entered as a Class 17 asset, and there are downfalls to claiming CCA on your principal residence and property.
This link is quite helpful in explaining the CCA claim: https://bit.ly/2XNeyWP
The snowblower/tractor is also a Capital Expense and should be entered as a Class 8 asset, which depreciates at 20%. Claiming this item will not affect your principal residence exemption, but if a portion of it is being used for "personal use", you must factor that portion into the CCA calculation.
This link has more information on CCA: https://bit.ly/2NUNalo