GST On New Rental Condo Purchase

I purchased a new rental condo for 120K + 5% GST = 126K total.

It was a new unit that I am renting out. I was told I could deduct the GST (6K) from my taxes. Just wondering how/where I go about to do this? Is there a specific document I should be getting from the builder?

Thanks,

1313

1 Best answer

Level 2

Oct 29, 2019 11:13:16 PM

This guide should provide all the information you need, including the forms:

http://www.cra-arc.gc.ca/E/pub/gp/rc4231/README.html

Level 2

Oct 29, 2019 11:13:16 PM

This guide should provide all the information you need, including the forms:

http://www.cra-arc.gc.ca/E/pub/gp/rc4231/README.html

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GST On New Rental Condo Purchase