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Pia

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  1. Hello, we (my husband and I) purchased a rental property in June 2020 which we extensively renovated and started renting it in February 2021. I understand that I can only claim CCA for the building (not land) and legal expenses pertaining to the purchase of the building (not land). I claimed our purchase of the building and capital renovation expenses (Class 1) and appliances (Class 8). I am not sure that I entered the information correctly as I do not see any carry forward amounts for the CAA. As this is our first year, what fields should we be completing when it comes to the CAA? As per other posts, you do not enter anything for opening balance of UCC; rather you enter the amount in ACB? Other than purchase date, do we need to complete any other fields? Thank you.
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