My rental property has a hydro pole that I had to have replaced in 2016. Cost was $2300. The new pole is wooden like the old pole. Is this a capital cost or an expense?
My rental property has a hydro pole that I had to have replaced in 2016. Cost was $2300. The new pole is wooden like the old pole. Is this a capital cost or an expense?
My rental property has a hydro pole that I had to have replaced in 2016. Cost was $2300. The new pole is wooden like the old pole. Is this a capital cost or an expense?
I would say it’s a current expense,
because you are just replacing something that was already there.
My rental property has a hydro pole that I had to have replaced in 2016. Cost was $2300. The new pole is wooden like the old pole. Is this a capital cost or an expense?
I would say it’s a current expense,
because you are just replacing something that was already there.
My rental property has a hydro pole that I had to have replaced in 2016. Cost was $2300. The new pole is wooden like the old pole. Is this a capital cost or an expense?
I had to talk to the CRA regarding my T4RRSP...and brought this question up as well. They told me the same thing as what TurboTaxSusan said.
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