A firm has class 10 UCC (undepreciated capital cost) carry forward of $70,000. During the year, the firm purchased another class 10 equipment worth $125,000. CCA (capital cost allowance) rate is 30% for class 10 equipment. What is the maximum amount of CCA expense that the firm can claim as a tax deduction against income, in the second year of this recent purchase (assume the maximum was claimed in year one)?

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During the current tax year Paul bought a house to use for rental purposes For CCA purposes the building is classified as Class 1 with a 4 rate It is ... View the full answer