Quote:
Originally Posted by I-Hate-Hulse
Whoa - I've always believed you wouldn't want to claim CCA on a rental condo least you trigger recapture and have to include the difference into income. After all, you're in the business of seeing your condo increase in value and you should exit the deal with a much higher resale value (hopefully).
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Pay tax on the income now or pay tax on the same amount in the future. Since I expect to be in the same bracket both now, and when I sell, that's an easy decision for me to pay the tax in the future.
I talked about recapture in one of my earlier posts. I'd rather keep my money now and defer payment of taxes as far as I can.