On April 1 st of the current year, M Limited paid $20,000 for a license to manufacture
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Question:
On April 1st of the current year, M Limited paid $20,000 for a license to manufacture widgets. The license has a 4-year limited life. What is the maximum amount of capital cost allowance (CCA) that M Limited can claim in the current year in respect of this license? Ignore the effects of leap year.
A. $500
B. $1,000
C. $1,884
D. $3,767
Related Book For
Canadian Income Taxation planning and decision making
ISBN: 9781259094330
17th edition 2014-2015 version
Authors: Joan Kitunen, William Buckwold
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