Rental Income Deduction

[Nissim]

Greetings,

I am renting the top half of my house. I live in the ground level. I repaired the balcony. It's not an addition, just a repair to bring it back to its original state. My balcony is only being used by my tenants because it is on the second floor of my house. I have two questions:

 

1) Is this a current or capital expense

2) Since the balcony is only being used by my tenants, can I deduct 100% of the repair costs against the rental income?

 

Thank you for any help

 

[Geo123]

Hello Nissim,

Please consult with an accountant or the CRA.  

Contact the CRA
1-800-959-8281 for inquiries related to individuals.
 Telephone numbers – Canada Revenue Agency / CRA wait times:
https://www.canada.ca/en/revenue-agency/corporate/contact-information/telephone-numbers.html

FYI :

Current expenses or capital expenses

 

Renovations and expenses that extend the useful life of your property or improve it beyond its original condition are usually capital expenses. However, an increase in a property's market value because of an expense is not a major factor in deciding whether the expense is capital or current

https://www.canada.ca/en/revenue-agency/services/tax/businesses/topics/rental-income/current-expenses-capital-expenses.html