Hi all,
A tenant will be vacating my IP soon and I plan to do some repair work as well as a bit of renovating.
I have a full time job so I expect everything to be in about 2-3 months.
Would I be able to claim tax deductions (e.g. loan interest) for the repair/reno period even though it is vacant for a while ?
I won't be living in the IP and intend to rent it out once the job is done.
Thanks in advance !
A tenant will be vacating my IP soon and I plan to do some repair work as well as a bit of renovating.
I have a full time job so I expect everything to be in about 2-3 months.
Would I be able to claim tax deductions (e.g. loan interest) for the repair/reno period even though it is vacant for a while ?
I won't be living in the IP and intend to rent it out once the job is done.
Thanks in advance !