Hi There,
I have a rental property where the balconies on one side of the builder had been close due to needing repair (thankfully not my side).
We received a special assessment from our strata of around $17k. My rental income is around 19k minus all expenses is around $7200 of taxable income.
From research so far the special assessment needs to be a CCA but I have no idea how I could calculate that, the forms I found on CRA weren't super helpful. The project has already started as well and all the money has been spent by the strata.
Whats my best approach for applying the Special assessment to my taxes.
Thanks,
R
