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New Rental Operation in the year


Anastasia228
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We closed a preconstruction condo in 2020, initially bought in 2014.  First year of rental also in 2020.

1.  Are occupancy tax deductable?

2. There are closing costs (non legal ones) required to pay the developer, are any of those deductible?

3. Do I need to record sale price from the purchase agreement?  Does CRA need to know/record for future use when we sell?

4.  On Ufile, I see I can click new yr of operation, is there anything else specific to the closing of condo / new year of rental that I need to set up?

Thanks,

Angie

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