What are outlays and expenses used in calculating capital gain and loss

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