An individual, named John, has acquired a piece of equipment for his business at a cost of
Fantastic news! We've Found the answer you've been seeking!
Question:
An individual, named "John", has acquired a piece of equipment for his business at a cost of $100,000. The equipment is subject to the reducing balance method of Capital Cost Allowance (CCA) and is eligible for a CCA rate of 20%. Based on the information provided, determine the amount of CCA that John can claim in the first and second year of ownership?
Note: To simplify the calculations, assume that the CCA is claimed at the end of each year.
Related Book For
Federal Taxation 2021 Corporations, Partnerships, Estates & Trusts
ISBN: 9780135919460
34th Edition
Authors: Timothy J. Rupert, Kenneth E. Anderson, David S. Hulse
Posted Date: