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Claiming Capital Cost Allowance for old Furniture

Hi, 

I recently rented my house including furniture which I used to live there earlier. Most of the furniture was 3/4 years old.  I also replaced the fridge/furnace/heater in the last few years. So I just want to check, how can I claim this in my tax return? Can I claim this as a Capital cost allowance or as an Undepreciated Capital Cost (UCC)?

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1 Reply
ThomasM125
Expert Alumni

Claiming Capital Cost Allowance for old Furniture

You can enter the furniture and equipment as assets to be depreciated. The amount to enter for the cost would be the lower of cost or market value. You will see an option to enter your rental property assets on the screen that says Review Your (name of rental) Rental Summary:

 

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