Your weekly dose of tax knowledge - become tax savvy in just 2 minutes!
Q: If the tenant incurred building maintenance cost such as repair of roof leaking, painting or change of tiling due to breakage, can the tenant claim tax deduction under upkeep of building?
A: If the tenant is using the building for business purpose, the repair and maintenance of the building is still tax deductible as this is a repair to allow the business to continue.
Wishing you plentiful tax savings!
YYC Tax Guru