Serbinski Accounting Firms

Thanks for your response. I've only ever held the property as an individual (not as a corporation). Since I never claimed depreciation on the building, would it still be considered "depreciable property"? There would be no CCA recapture upon sale. My understanding is that a 25% holdback is...

Thanks for your quick response. I've only ever held the property as an individual (not a corporation). Since I never claimed depreciation on the rental property, is it still considered "depreciable property"? There won't be any CCA recapture. My understanding is that a 25% holdback is the ...

Hi, I have been a non-resident of Canada of the past 8 years. I purchased a Canadian house in 2022 with the intent of eventually moving back to Canada someday in the future. I never lived in the home and rented out the property since acquisition. Due to rising carrying costs, I reported rental losse...

I elected to do a deemed disposition on my principal home when I departed Canada a few years ago. This resulted in a new stepped-up cost base for the property. I turned the home into a rental property shortly after I left the country. To establish the FMV on my departure date, my real estate agent p...