Outlays and expenses are amounts that you incurred to sell a capital property. You can deduct outlays and expenses from your proceeds of disposition when calculating your capital gain and capital loss. You cannot reduce your other income by claiming a deduction for these outlays and expenses.
These type of expenses including:
-
- fixing-up expenses;
- finders’ fee;
- commissions;
- brokers’ fees;
- surveyors’ fees;
- legal fees;
- transfer taxes, and
- advertising costs