Hello Harbajan, when it comes to your personal residence there is no write offs from income taxes unless you are claiming a portion of your home as a business use, office space, storage of goods etc... Please confirm with your accountant how much you can write off but in general only rental income properties are subject to the write off you mentioned. If you or any reader would like to discuss this further please do not hesitate to contact me at any time. Abraham Niyazi - Mortgage Agent - Lic# M08010640 - Centum One Financial Lic# 10758 - Cell: 416-993-4082 - Office: 1-866-RATE-708 http://www.centum.ca/abraham_niyazi/ I have access to 25 Banks/Lenders across Canada and 11 years experience in the industry.

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I owned my condo for about 2 and half years. then i got a new job and moved to another city. i rented out my own condo 1500$/mon to cover my cost. in the meanwhile i paied 1195$/mon for the apartment that i live in at the new place. i saw an explanation at turbo-tax: http://turbotax.intuit.com/tax-tool s/faq... my question is that is my 1195/mon expenses on the new apartment decuctable? is the hoa fee dedcutable? thanks 4 hours ago - 3 days left to answer. from turbo tax, it looks like both are deductable

From your description, it appears that your move was permanent and you established a new domicile. Your apartment is your personal residence and any expenses associated with at are not deductible. On the other hand, all expenses associated with your rented condo are deductible because you have converted it to income property. You can deduct property taxes, insurance, utilities, interest on the mortgage (but not the principal), maintenance, homeowners association fees, repairs, and even the cost of your visiting the rented condo location for the purpose of conducting business about your income property, such as inspections, rental arrangements, hiring a rental agency, etc. If your job were a temporary move and you intended to return to your condo and you rented it only for the duration of your absence, you would be able to claim the rent, meals, and other expenses you have on the temporary move as "away from home expenses." This would be the case if your employer required you to move to the new location for some period of time. In that case your employer would reimburse some of your expenses, and that part would not be deductible. However, it seems that your move is permanent.