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alekseypalvaee
April 17, 2024
Question

Where under rental income can I add license fee such as amount paid for building permits in Ontario ?

  • April 17, 2024
  • 1 reply
  • 0 views
I only see option for professional fee, but  not for license . Where can I claim this ?

    1 reply

    TurboTaxSusan
    TurboTaxSusan
    April 17, 2024

    If you had to get a building permit to build or upgrade the rental unit, then this would be a capital cost, and capital costs can't be claimed as expenses. You would either add the building permit costs to the adjusted cost base (ACB)  of the property when it is sold, or enter it under capital cost allowance (CCA).

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