Re: 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.
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.
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.
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 link. I also suggest you to check this turbotax blog to get more information on rental property expenses.
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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.
Yes you can claim full amount of common rental property expenses include home insurance, heat, hydro, water, and mortgage insurance for a rental property.
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