Quote:
Originally Posted by Teh_Bandwagoner
Got a couple questions on this:
My understanding is that you cannot artificially create a loss or a gain from depreciation i.e. I can't claim CCA if I'm reporting a loss. But does that mean on just my rental property? Or is the loss for the combined rental income and employment income.
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It is just on the rental property. If you already have a loss from your rental property you can't claim depreciation to offset your employment income. Absolutely not allowed, and they will catch it if you do it.