Globe Inc. (a public corporation) had a Class 10 undepreciated capital cost (UCC) balance of $12,000...
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Globe Inc. (a public corporation) had a Class 10 undepreciated capital cost (UCC) balance of $12,000 at the end of 2021. The only asset in the pool (a small pickup truck) was sold on December 20th of 2022 for $5,000. On the same day, Globe purchased a new truck for $8,000. How much CCA can Globe claim in 2022? (The maximum CCA is always claimed by Globe Inc.) Globe Inc. (a public corporation) had a Class 10 undepreciated capital cost (UCC) balance of $12,000 at the end of 2021. The only asset in the pool (a small pickup truck) was sold on December 20th of 2022 for $5,000. On the same day, Globe purchased a new truck for $8,000. How much CCA can Globe claim in 2022? (The maximum CCA is always claimed by Globe Inc.)
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Answer rating: 100% (QA)
To determine the amount of Capital Cost Allowance CCA that Globe Inc can claim in 2022 we need to ca... View the full answer
Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
Posted Date:
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