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The amount of capital cost allowance (CCA) the partnership is claiming for the fiscal period, and to account for acquisitions and/or dispositions of depreciable property. All the information requested in this form and in the documents supporting your information return is "prescribed information". Complete this schedule using the instructions in Guide T4068, Guide for the Partnership Information Return (T5013 forms). If you do not have enough space to list all the information, use an a.

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It states that a company can assume a fixed asset to be in service for only half its first year, irrespective of its actual date of purchase. The business can deduct the remaining half-year of depreciation from the earnings in the final year after selling or disposing of the asset.

This means computers, electronic office equipment and systems software for that equipment falls into Class 50 with a CCA rate of 55% if it was purchased after that date.

Class 10. The CRA includes electronic data-processing equipment, computer hardware, and systems software in Class 10. Items that fall into this category include computers, software and firmware.

Class 10 (30%) Class 10 with a CCA rate of 30% includes general-purpose electronic data processing equipment (commonly called computer hardware) and systems software for that equipment, including ancillary data processing equipment, if you acquired them either: before March 23, 2004.

You would list them as additions in class 50 at 55% depreciation. The first year, you will only deduct half of the depreciation per the half-year rule. Unless they are fairly expensive items, you could write them off in the third year.

How is Capital Cost Allowance calculated? Use the CRA's chart of classes and list of capital property to determine which classes your purchases fall into. Group your expenses together by class, and add them together. Then, multiply the total in each class by its rate. The result is the CCA you can claim for the year.

The following are a list of examples of capital expenditures along with their capital cost allowance rate: Class 50 (50% CCA per annum) – laptops, ipads, printers, servers, computer system software, iphones, and GPS for vehicles. Class 8 (20% CCA per annum) – computer furniture, office telephones, and photocopiers.

Capital cost allowance (CCA) is the amount of amortization expense that the government will allow a company to deduct from its income for tax reporting purposes.

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© Copyright 1997-2025
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Form Packages
Adoption
Bankruptcy
Contractors
Divorce
Home Sales
Employment
Identity Theft
Incorporation
Landlord Tenant
Living Trust
Name Change
Personal Planning
Small Business
Wills & Estates
Packages A-Z
Form Categories
Affidavits
Bankruptcy
Bill of Sale
Corporate - LLC
Divorce
Employment
Identity Theft
Internet Technology
Landlord Tenant
Living Wills
Name Change
Power of Attorney
Real Estate
Small Estates
Wills
All Forms
Forms A-Z
Form Library
Customer Service
Terms of Service
DMCA Policy
About Us
Blog
Affiliates
Contact Us
Privacy Notice
Delete My Account
Site Map
All Forms
Search all Forms
Industries
Forms in Spanish
Localized Forms
Legal Guides
Real Estate Handbook
All Guides
Prepared for You
Notarize
Incorporation services
Our Customers
For Consumers
For Small Business
For Attorneys
Our Sites
US Legal Forms
USLegal
FormsPass
pdfFiller
signNow
airSlate workflows
DocHub
Instapage
Social Media
Call us now toll free:
1-877-389-0141
As seen in:
  • USA Today logo picture
  • CBC News logo picture
  • LA Times logo picture
  • The Washington Post logo picture
  • AP logo picture
  • Forbes logo picture
© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232