QUESTION: I have a rental condo. are the strata fees I pay tax deductable
as part of maintenance? strata fees include utility and garbage collection
and like. thanks very much
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david ingram replies:
Of course, you can deduct the strata fees in Canada or the US.
This was such a no-brainer that I was going to ditch the question and then
realized why it deserved a reply.
In spite of the fact that at least half the rentals in North America are
stratified apartments, condos, office space, warehouses or even parking
spaces and boat moorage, neither the Canadian T776 or the US Schedule E have
a dedicated line for Strata Fees.
It is a silly situation. Both the CRA and IRS should amend their forms to
include the strata fees as an obvious deduction. I have had an amazing
number of people over the years bring in their rental statements form other
years without the strata fees deducted.
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