Basil Partnership has the following information and transactions during 2021.

1) Class 1 (4%) building, opening UCC balance $660,000. This building was originally acquired in 2014 at a cost of $870,000. It was sold during the year for $585,000. There is no other property in this class.

2) Class 8 (20%) furniture, opening UCC balance $30,000. New office furniture was purchased for $10,000 to replace damaged items sold earlier in the year for $6,000 (original cost $9,000).

3) A new passenger vehicle (class 10.1 – 30%) was purchased during the year for$50,000.

Following the above information, calculate the maximum CCA for 2021 with respect to each class. Provide details of all calculations.

Answer rating: 100% (QA)

Class 1 4 building opening UCC balance 660000 This buildin... View the full answer