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Adding capital expenses to CCA base


PeteH
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Hello,

I incurred some capital expenses for 2022 and will be adding these expenses to my CCA base for my rental property.

Was wondering if someone can provide me a step-by-step as to how to add the incurred capital expenses to my CCA base?

Also, due to the half year rule, I will only be allowed to claim 50% of these expenses for 2022, so my question is - do I add 50% of the cost for 2022, then add the other 50% in 2023 tax year? 

Thanks,

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Hello PeteH,

To add a capital addition to an existing asset, go to the CCA of the existing asset in your Rental Property and enter your amount under “Description and amount of capital additions (other than AIIP)”. The program will calculate the half year rule automatically.

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1 minute ago, Maggie3 said:

Hello PeteH,

To add a capital addition to an existing asset, go to the CCA of the existing asset in your Rental Property and enter your amount under “Description and amount of capital additions (other than AIIP)”. The program will calculate the half year rule automatically.

Great, thank you!

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