Hi. I bought my first rental property (condo unit) in 2022.
I'm confused if I can add legal fees and other expenses (i.e. Tarion Warranty, Installation of Electricity Meter/other required equipment for closing condo) into building's cost in Capital Cost Allowance section. Or should I write equipment cost separately in the equipment section of CCA?
Note that all equipment installation I am talking about here was required by Condo, not my personal preference/favor.
Thank you.
Yes, you can claim legal fees and the installation of things like electricity meters as part of the cost of your condo.
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