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New Member
posted Apr 21, 2021 9:27:11 PM

Can any of these following expenses on my rental income be claimed as expenses instead of CCA? Hot water tank, furnace, water line upgrade, roofing, electrical upgrade.

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2 Replies
Level 2
Nov 1, 2021 12:49:33 PM

As per CRA, you can deduct any reasonable expenses you incur to earn rental income. The two basic types of expenses are current expenses and capital expenses. You may find the list of all expenses that is deductible in this linkI also suggest you to check this turbotax blog to get more information on rental property expenses.

 

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Level 3
Nov 3, 2021 8:21:22 PM

Yes you can claim full amount of common rental property expenses include home insurance, heat, hydro, water, and mortgage insurance for a rental property.

Please visit the link for more information.

 

Furthermore you can also refer - Rental Property Expenses : Current or Capital 

 

If you require further assistance please contact our phone support team for further assistance or contact us directly on Facebook or Twitter.