Are Condo Fees tax deductible? Nathan Carroll Shupilov Success Team Follow Unlike some Legal Fees and the Welcome Tax, Condo Fees are immediate tax deductions for investment properties with with sole purpose of producing rental income. Example: If your investment condo makes $12,000 a year and you pay $3,000 a year in condo fees, you can deduct the $3,000 from your final NET income, bringing down your total taxable obligation to $9,000. Related articles Is the Welcome Tax deductible? Are School Taxes deductible? What is Undepreciated Capital Cost (UCC)? What is Capital Cost Allowance (CCA)? Can you deduct legal, accounting, and other professional fees? Comments 0 comments Please sign in to leave a comment.