Real Estate

should I claim CCA for rental property?

  • Last Updated:
  • Apr 11th, 2019 1:03 am
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Newbie
Sep 23, 2017
9 posts
1 upvote
sorry spaces got deleted so I added commas to the table header
Deal Expert
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Jan 27, 2004
18704 posts
5736 upvotes
sorry...what does CCA stand for?
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Deal Fanatic
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Apr 1, 2001
6830 posts
1257 upvotes
kiasu wrote: sorry...what does CCA stand for?
Capital cost allowance.
Deal Addict
Jul 3, 2002
1381 posts
130 upvotes
Markham
Sorry for bring up this old thread. For UCC for the beginning of the year, if I claim as a co-ownership, should I enter the total cost for the property or should split the amount between my partner? Thanks.
torontodragon
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Newbie
Aug 21, 2011
79 posts
60 upvotes
SCARBOROUGH
revive this thread. If I don't claim CCA on property but claim CCA on Appliances, Furniture, Vehicles, when I sell the property do I have to claw back the CCA claimed? As these items their value are depreciating each year not gaining like the property, so when I sell the property I don't have gain on these items then I won't have to claw back previously claimed CCA as taxable gain? Am I understanding this right?

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