Quote:
Originally Posted by CorsiHockeyLeague
Squiggs, my understanding was always that you could take CCA on a rental property to the extent of your i come from that particular property. Which is depreciation for tax purposes, not just accounting purposes. I didn't understand him to be saying he'd have enough CCA to create a net rental loss.
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Your understanding of CCA is correct. To me it seems like he is taking CCA well past his net rental income, giving him a net rental loss, which generates the increased refund. If I saw his actual documents, I could have a concrete answer, but as explained to me in the thread, that's how I interpret it. He might only be taking it to a net zero rental income, which would be correct, and his wording of his refund could be off. Without seeing the documents, I'm not sure which is happening.