2013 Net loss in rental property for Non resident

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NewCanadian
Posts: 75
Joined: Sun Mar 07, 2010 5:07 pm

2013 Net loss in rental property for Non resident

Post by NewCanadian »

While working in US, my Toronto rental property has been on lease for many years. Every year, due to net positive rental income, I have been claiming Capital cost allowance to make it zero income.

This year for the first time, I will have about $5000 net loss without having to claim Capital cost allowance.

My question is whether I can carry forward this loss to next year to offset against next year's net income?
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nelsona
Posts: 18359
Joined: Wed Oct 27, 2004 2:33 pm
Location: Nowhere, man

Post by nelsona »

No, you willsimply have no CCA this year. Next year you will calculate the the CCA in normal way, not "doubling up".
nelsona non grata. Non pro. Please Search previous posts, no situation is unique as you might think. Happy Browsing :D
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