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Level 1
posted Apr 17, 2024 3:57:54 AM

Where under rental income can I add license fee such as amount paid for building permits in Ontario ?

I only see option for professional fee, but  not for license . Where can I claim this ?

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1 Replies
Moderator
Apr 17, 2024 12:30:50 PM

If you had to get a building permit to build or upgrade the rental unit, then this would be a capital cost, and capital costs can't be claimed as expenses. You would either add the building permit costs to the adjusted cost base (ACB)  of the property when it is sold, or enter it under capital cost allowance (CCA).