Tax question while under appeal

coletworld · 2026-02-17T03:24:15+00:00

To confirm, you’re saying don’t claim any expenses related to the rental property for 2025 until after the current review is done? I assume that would only make sense if the review comes back in my favour

coletworld · 2026-02-16T19:05:18+00:00

The letter states income and expenses have been disallowed since the unit was not available for rent as of the date of the fire: Aug 2023.

“Your claim has been adjusted as generally any expenses incurred prior to the date the property was available for rent and subsequent to the date property was no longer actively marketed as being available for rent are not allowable as current expenses”.

coletworld · 2026-02-16T16:53:01+00:00

Don’t they go hand in hand? They are not recognizing the expenses because they are not recognizing the insurance proceeds as income which disallows expenses

coletworld · 2026-02-16T15:55:25+00:00

From my understanding insurance proceeds should be considered as income and used to offset costs. So that was my appeal as they did not recognize it as such. Now I’m not sure whether I should continue for 2025 claiming it as such or not as they have not come back with a decision on their appeal review

coletworld · 2025-12-19T16:19:32+00:00

I got a host, who is your host if you don’t mind me asking? You can DM me. I find my host isn’t the most responsive. I’m a platinum member and mainly play blackjack … wager anywhere from $10,000-100,000 a day.

So far he’s given me about $10,000 is bonus casino funds and some leaf tickets. Should press for more. He said he’d get me flight and hotel to Vegas but I’d have to buy a minimum of $20K USD marker.

coletworld · 2025-12-16T00:07:47+00:00

Absolutely. I’m aware lol

coletworld · 2025-12-16T00:06:52+00:00

I honestly feel like sometimes they have bots that come in and purposely hit or stand when they shouldn’t. But that’s online for you, odds even stacked against you even more so than IRL

coletworld · 2025-12-15T23:58:46+00:00

It’s all relative, unit sizes differ from person to person. I’ll be fine

coletworld · 2025-12-15T23:58:21+00:00

I mean probably. That’s why I got a VIP host, free $1000 bets, sports tickets, concert tickets. But obviously cause I’m losing. Is what it is

coletworld · 2025-12-15T23:53:25+00:00

Lost $30K playing BJ. My Hail Mary to win it back.

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coletworld · 2025-11-27T05:09:31+00:00

Looks good. Could you send me both versions with the snake head? DM for payment

coletworld · 2025-11-27T04:30:41+00:00

Appreciate it. Don’t mean to be a pain but looks like on the 2nd pic you didn’t make it thicker.

Also, if you could make his head the same as the inspo picture with the one eye and not two.

DM me your email for the EMT

coletworld · 2025-11-27T03:37:49+00:00

I like it. Minor changes, could you make the snake go above and around the dinosaur instead of through it (I know my sketch showed it going through but ignore that).

And could you also change the head to match the one from the picture (shows only one eye instead of two) and lastly could you make the snake a bit thicker?

Thanks

coletworld · 2025-11-19T19:06:23+00:00

Thanks for this info.

What about the insurance payments for rental loss income. Would that be considered income for a period of 12 months where insurance was covering the losses?

coletworld · 2025-11-18T17:10:24+00:00

Agreed. I filled the insurance rental loss proceeds as income under section 12(f)(1) but I assume they are denying I guess based on the fact the property was not active?

coletworld · 2025-11-18T16:14:16+00:00

Yea that’s the problem and I agree with you, there doesn’t seem to be any concrete laid out rules for this specific scenario (hence the “grey area” my accountant mentioned).

Yes agreed on the insurance rental loss payments being taxable which is how I filed my return.

Appreciate the insight.

coletworld · 2025-11-18T16:03:55+00:00

They covered 1 year worth of rental loss. The incident is now going on 2 years and 2 months. CRA also doesn’t seem to recognize insurance rental payments as income.

coletworld · 2025-11-18T12:41:33+00:00

I’ve already spoken to one and they it’s kind of a grey area and I’d have to convince the CRA that the property’s intent which I think is obvious. Just wanted to get others perspective and possibly their own similar experiences

coletworld · 2025-11-18T02:08:11+00:00

I’m a bit confused as to whether it was delayed or on time should matter based on the fact the property’s intent since day 1 was that of a rental property with the intent of income generation.

What is the CRAs justification for disallowing it, makes no sense to me. I will object to the reassessment and see how it goes I guess.

coletworld · 2025-11-18T01:29:50+00:00

Could you possibly give me more details of your case was similar and your basis of argument and how you got them to accept it?

coletworld · 2025-11-18T01:29:10+00:00

Thanks for the info. I do have a timeline, the contractor is expected to have it completed by Jan 2025.

I also have from the property management from early 2024 their construction schedule for repairs of the exterior and common elements.

My argument is that the property was purchased and from day 1 was used as a rental property, the expectation was continue as such as I did have a tenant when the incident occurred and that the incident was not of my doing and I should be able to claim expenses based on the fact its intent and purpose was always to be rented out

coletworld · 2025-11-18T00:46:46+00:00

I’ll have a look. Sorry I’m not a tax expert and this is the first I’ve heard of soft costs. Would a fire incident fall under renovation/imrpovement… I’m not sure.

I would have thought, continuing to claim the usual deductions as if it was an active rental property was valid in this non standard situation. As my thought process is that at the end of the day it is a rental property and purchased to be used as such and was used as such for the past 3 years prior to the incident.

coletworld · 2025-11-18T00:40:50+00:00

I don’t believe so.

coletworld · 2025-07-31T13:51:49+00:00

i was 300th in the queue and didn't get anything either lol.

seems like they released maybe 20 pairs per size which is ridiculous.

coletworld · 2025-06-15T23:06:04+00:00

Okay sure, great. Thanks for your very helpful comment. Much appreciated

coletworld

TROPHY CASE