Mbénar v. The Queen, 2011 DTC 1230 [at at 1336], 2011 TCC 246 (Informal Procedure) -- summary under Improvements v. Repairs or Running Expense

By services, 28 November, 2015

Considering repair expenses on a rental property, Favreau J. stated (at paras. 12-13):

In fact, it was a complete rehabilitation of the building that was in total disrepair and dangerous for the tenants.

The expenditures in question were significant, close to $175,000 in total, in comparison with the purchase price of the building, which was $98,500, that is, 1.75 times higher than the acquisition cost. Such expenditures cannot in any way be considered as being for minor repairs or regular maintenance.

Topics and taglines
Topic
Income Tax Act - s. 18(1)(b) - Capital Expenditure v. Expense - Improvements v. Repairs or Running Expense
Tagline
complete rehabilitation
d7 import status
Drupal 7 entity type
Node
Drupal 7 entity ID
335619
Extra import data
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