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Capital Cost Allowance for Real Estate

Tax Question:

What tax issues arise with capital cost allowance related to real estate?

Facts:

Capital cost allowance (CCA) is the tax term in Canada for the deduction of amortization on capital assets. There are separate classes of CCA for property, plant and equipment and different rates that apply to each class. There are some specific rules for claiming capital cost allowance related to real estate.

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Real Estate Expenses During Pre-acquisition

Tax Question:

What are common real estate expenses during the pre-acquisition phase?

Facts:

There are various real estate expenditures that are deductible to the corporation and others that are capitalized or allocated to inventory. In this FAQ, we will discuss the real estate expenses that are deductible during the pre-acquisition phase as an operating expense to the corporation in the fiscal year that expenditures were incurred.

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