I am renting my house in Ontario Canada, and claiming the rental income/expenses on my tax return. I know I can claim current repair expenses, but next year 2024, I have to replace the roof and carpets in the rental house. Can I claim these expenses as current or do I have to treat them as capital expenditures? I prefer not to claim any capital cost allowance, because I intend to move into the house in the future as my principal residence. If capital expenses, then I will add the expenses to my adjusted cost base when selling in the future.

  • I also read that I can claim the new dishwasher I purchased to replace the old one as a current expense.
    – user122866
    Commented Dec 8, 2023 at 16:50
  • This is a question that contains a higher level of subjective judgment. See here: realestatetaxtips.ca/…. [note: I have no relation to the site, and have done only a brief review of the material; it seems sound to me] Commented Dec 11, 2023 at 14:53


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