In 2021 / 2022 we completed and rented a suite in our basement - what renovation costs (eg LOC interest for reno loan) can we claim as current costs (not claiming CCA)?
In 2021 / 2022 we completed and rented a suite in our basement - what renovation costs (eg LOC interest for reno loan) can we claim as current costs (not claiming CCA)?
We began renovations in 2020 using money from our mortgage, and used a contractor for the work - can we also use the mortgage and loan interest over that period as a current cost listed as a construction soft cost?
In 2021 / 2022 we completed and rented a suite in our basement - what renovation costs (eg LOC interest for reno loan) can we claim as current costs (not claiming CCA)?
You can't deduct the repayments of principal on your mortgage or loan, only the interest.
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