ACC522 - Chapter 6 CCA Rates

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Published on 4 Aug 2012
School
Ryerson University
Department
Accounting
Course
ACC 522
Professor
ACC522 Chapter 6 CCA Rates Chart
Class 1
Class 3
Class 12
Class 43
4%
20%
100%
30%
- Buildings after 1987
- ½ year rule
10% if after March 2007, at least
90% of building used for
manufacturing & processing OR if
used for non-residential purposes
6% (2% allowance = 6%)
Misc Tangibles
- Equipment
- Office furniture
- Photocopiers
- Fax machine
- ½ year rule
Separate class for property over
$1000, when sold = terminal loss
- Small tools (less than $500)
- Computer software
- Dishes
- Books
- Videotapes
- Uniforms
- Cups, cutlery, kitchenware
- ½ year rule
- Manufacturing &
Processing
Equipment/Machinery
For sale/lease
Class 10
Class 45
Class 50
Class 52
30%
45%
55%
100%
- Vehicles up to $30k
- Moveable Equipment
- 2004-2007 computers
- 2007-2009 computers
- 2009-Feb 2011 computers
- No ½ year rule
Class 10.1 Luxury Cars
Class 13 Leasehold Improvements
Class 14
Eligible Capital Property
30%
Min 5yrs, max 40 yrs
Intangibles with limited life
Intangibles unlimited life
- Vehicles over $30k (luxury)
- No ½ YEAR RULE
- Assets not pooled
- No recapture or terminal
loss
Limit CCA to $30k + tax for each
pool
Straight line method
Cost / (life of lease + 1 renewable
option period)
- ½ year rule to original &
additional improvements
CCA =


Straight line
# days owned in yr / total # days in
life of asset
- No ½ year rule
franchises, licenses, concessions
with limited life
Patents (or Class 44)
- Buy something 75% in
- Deductions 7% each item of
pool each year
- Dispose something 75% out
- No ½ year rule
- Assets pooled together
- Goodwill (purchase),
trademarks, customer lists,
incorporation costs
franchises, licenses, concessions
with unlimited life
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