Capital Cost Allowance – Depreciation- 100%- this means the full amount is deductible
A new class has been added Class 52- This includes general purpose electronic data processing equipment, commonly called computer hardware and systems software for that equipment including ancillary data- processing equipment, acquired after January 27, 2009 and before February 2011. The CCA rate is 1005 and the half year rule will not apply. Further info on page 20 of the guide
Remember: Depreciation can only reduce your income to zero. It cannot produce a loss.
Another tip: your car is one of your greatest assets that you can claim depreciation. This will be covered in the future.
You can also claim depreciation on your building that you rent, but remember that the depreciation will have to be added to the sale price when your capital gains are calculated. You may want to keep that last deduction as a last resort.
Remember: Depreciation can only reduce your income to zero. It cannot produce a loss.
Another tip: your car is one of your greatest assets that you can claim depreciation. This will be covered in the future.
You can also claim depreciation on your building that you rent, but remember that the depreciation will have to be added to the sale price when your capital gains are calculated. You may want to keep that last deduction as a last resort.
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