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Claiming office expenses with real estate property


Robin Kirk
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Hello Robin Kirk.

Deducting for an office in your home as a rental expense is commonly disallowed by CRA. If you have a substantial amount of rental units that requires frequent meetings with tenants, contractors, etc you would maybe be able to make a claim. Here is some other information for office expenses.

https://www.canada.ca/en/revenue-agency/services/forms-publications/publications/t4036/rental-income.html#P522_49839

Line 8810 – Office expenses

You can deduct the cost of office expenses. These include small items such as pens, pencils, paper clips, stationery, and stamps. Office expenses do not include capital expenditures to acquire capital property such as calculators, filing cabinets, chairs, and a desk. These are capital items.

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On 10/13/2022 at 1:48 AM, MaceyArroyo said:

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On 10/13/2022 at 1:48 AM, MaceyArroyo said:

"The object of taxation of property tax is immovable property accounted on the organization's balance sheet as fixed assets. In general, the immovable property includes objects of capital construction (buildings, structures, constructions, etc.). Since the creation of such objects requires project documentation, permits for construction, and commissioning of the object, the question of whether the object is immovable is decided at the stage of developing project documentation and obtaining permits. You need to consult with someone on the type https://investorjunkie.com/reviews/fundrise/. He has a lot of answers to questions you can't find."

 

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