Frank (anonymous)

Can you provide clarity on 2 question regarding rental properties and the T776 form:
1) How do you calculate the Land vs Building Costs for the Capital Costs when purchasing a new rental property? Or is 100% of the purchase price able to be claimed in the CCA Capital Cost?
2) If you are using a HELOC/Line of Credit to fund the downpayment and repairs of the rental property can you claim the interest on the HELOC in the Interest & Bank Charges annually?