What cca class is a fence for rental property?

Answer

You can claim the maintenance of existing fences against the income you are reporting.  New fences are regarded as capital in nature and cannot be claimed as a current expense.  You will show this as a cost of additions and claim CCA if you choose to do so. 

Here is a list of CCA classes from the CRA : Capital cost allowance (CCA) classeshttps://bit.ly/2J37ORB

Here is a list of Current versus Capital expenses from the CRA: https://bit.ly/2NRhY4B

And from TurboTax if needed - How do I enter my rental income and expenses in TurboTax?

Rental income is income you earn from renting property that you own or have use of. You can own the property by yourself or with someone else. Rental income includes income from renting:

  • houses
  • apartments
  • rooms
  • space in an office building
  • other real or movable property

 

If you’re a partner and you received a T5013 slip

  1. Select Find in the upper-right hand corner.
  2. Type T5013.
  3. Select T5013 Partnership Income from the list and then select Go.

 

If you don’t receive a T5013 slip

You need to prepare a separate rental statement for each rental property you have. Canadian and/or foreign rental income and expenses are reported in the same section of TurboTax.

  1. Select Find in the upper-right hand corner.
  2. Type Rental Properties and then select Go.

 

 

Notes:

  • Enter only deductible expenses that you were not reimbursed for and have not deducted elsewhere
  • If you rent out a part of the building that you live in, you can claim only the portion of your expenses that relate to the rented part of the building.

If you are a co-owner or member of a partnership:

  • Enter your percentage of ownership in the Identification section and complete the Details of other co-owners and partners section, including the co-owners/partners percentage of ownership.
  • Enter the total gross income; do not enter just your portion/share

 

 

Related information


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