Real estate corporations in Canada can claim various expenses related to their business activities. Some of the common expenses that can be claimed include mortgage interest, property taxes, insurance, repairs and maintenance, and professional fees. It's also possible to claim depreciation of the building and other assets of the corporation. Depreciation is a non-cash expense that can be claimed over a period of time. However, it's important to keep in mind that the depreciation can only be claimed if the building is used to earn income. Additionally, the expenses must be reasonable and directly related to earning income. It's important to keep accurate records and receipts for any expenses claimed, as they may be subject to review by the Canada Revenue Agency (CRA).
