PeteH Posted November 30, 2022 Report Share Posted November 30, 2022 Hello, This was asked prior but was hoping to get more concrete responses. For capital expenses on a rental property, can I simply keep a record of all the capital expenses over the years and then take the total lump sum deduction when I dispose the property in the future? Or should I be adding the capital expenses on the year it occurs to the CCA pool on the property and then slowly depreciate the CCA balance over the years? CCA is a tax payer elect expense, so I can choose to add or not add the capital expenses to the corresponding tax year. So then my question becomes, if I choose not to include the capital expenses into CCA in the year I incur them, can I just deduct them all together in the future year that I dispose the rental property? Thanks in advance for any clarification. Quote Link to comment Share on other sites More sharing options...
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