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CanadaPanda

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  1. I am filing a tax return for 2022. I have two rental properties ( building A & B). Building A generated a rental income of $10715.25( half goes to wife). Building B generated a loss of $3000( half goes to wife). Building A was originally my principle property(Bought in 2013) and it became a rental property(100%) starting in Jan 1st 2022. I tried to claim CCA in building A. My questions are, 1) how to find out the value of the building in the first year of CCA claim? Do I use the statement of property assessment in 2022(first year for rental income purpose) or in 2013(the year I bought the property)? 2) In section of purchase day of the property, does it mean when the property was acquired for rental income purpose which I should enter 2022 or I still enter the actual date of purchase which is 2013? 3) Do I need to apply half-year rule for first year CCA?
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