Accelerated Capital Cost Allowance for Eligible New Purpose-built Rental Housing

The accelerated capital cost allowance increases the maximum allowable rate of depreciation from 4 per cent to 10 per cent on eligible new purpose-built rental housing. Eligible properties must contain at least four private apartment units (or 10 private rooms); and at least 90 per cent of residential units must be held for long-term rental. To qualify, construction must begin after April 15, 2024, and be completed before January 1, 2036.

Revised: 2024-05-22 02:15 PM