Quote:
Originally Posted by bizaro86
Even on an investment property? Because it seems like tha t would fit the bill of an expense required to earn income that has no personal component.
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As far as I know. I mostly work in BC, and deal with a lot of investors so I'm 95% sure on this; however as Realtor 1 mentioned, a good accountant really needs to be the one who answers this with certainty.
My understanding is that PTT can be considered part of the cost of purchase, and then on the sale of that property they are included when accounting for capital gains/losses. Therefore they will adjust for you at that point in a positive manor, however you can't write them off against your taxable income in the year of acquisition as a separate expense.