Help on claiming rental income on taxes
Anyone care to explain how CCA works?
I have a rental unit in a low rise apartment building. I’ve never claimed CCA and have been renting it out since beginning of 2016.
Hypothetically, if I bought it for 100k and as of 2016, it was assessed (city assessment) at 65k then 2017 is 70k, then what can I claim? What other information do I need in order to properly claim it?