We need to claim major renovations/build for a business. There is note under general repairs and maintenance that there is another part to claim it, but I don't see it.
We need to claim major renovations/build for a business. There is note under general repairs and maintenance that there is another part to claim it, but I don't see it.
We need to claim major renovations/build for a business. There is note under general repairs and maintenance that there is another part to claim it, but I don't see it.
Hi there.
Major improvements/renovations for your business property would be considered to be an increase to the value of your capital asset (building) rather than a current expense. You would then be able to depreciate (expense the use of the building) the asset by claiming capital cost allowance (CCA) as an expense.
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