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Updated almost 2 years ago,
Depreciation (capital cost allowance) on rental property
Looking for some advice... I am purchasing my first rental property, a triplex. I would like to know if there is anyone doing depreciation on the rental property? I know that CCA deduction claimed will become taxable upon sale of the property. What should I consider in order to make the decision for my situation? like my current taxable income level, the future appreciation of the property...
Thanks in advance!
Wendy