Billie

[YBY]

hi,

I did a complete renovation in the year of 2022 and I'm trying to add addition assets instead of expensing it. But for some reason after i added it CCA, the rental income becomes 0, which is not what I want.

Not sure what I should do.

 

Thanks in advance.

[Geo123]

Hello YBY,

You can limit the CCA to the figure you desire - in this example CCA is limited to $0

To whom the CCA should be allocated  [Business level (full amounts - 100%)]
Portion (%) of CCA used for business or employment  
Purchase date of the property [ 01-01-2020]
ACB of the depreciable capital property in this class [$5,000.00]
Limit to the CCA of this class  [$0.00]  <- - - LIMIT CCA
 

[YBY]

Thank you so much. It worked! I didn't put anything on LIMIT CCA and that's why the rental income bcame 0 dollar.

[Geo123]

Hello YBY,

You are welcome.