How to claim basement renovation costs - Tax Tip Weekly

Описание: Are you planning on renovating your basement for rental purposes? If so, then start your drills and put on your hard hat because this week’s tax tip is all about claiming basement renovation costs!

Capital expenditures - 0:37
Claiming capital cost allowance - 0:56
Increase your taxes? - 1:05
Recapture - 1:30
Not claiming CCA benefits - 1:38
Principle Residence Exemption: 2:05
Here's the tip - 2:40

Visit our website for more information and tax-related advice:
http://madanca.com

Follow us on social media
Twitter:   / madan_ca  
Facebook:   / madancharteredaccountant  
Instagram:   / madanaccounting  
Google+: https://plus.google.com/1085518694535...

Download any of our free eBooks available on our website: http://madanca.com/free-tax-secrets/
(Including Tax Tips for Canadians, Personal Tax Planning Guide for Canadians: 2014 Edition and 20 Tax Secrets for Canadians)

Disclaimer:
The information provided in this video is intended to provide general information. The information does not take into account your personal situation and is not intended to be used without consultation from accounting and financial professionals. All figures and dollar amounts are used for example purposes only. Allan Madan and Madan Chartered Accountant will not be held liable for any problems that arise from the usage of the information provided in this video.