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Mike66

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  1. Mike66

    Capital Cost Allowance

    Hi Gabriel, Any suggestions?
  2. Mike66

    Capital Cost Allowance

    Hi Gabriel, Can you please be more specific for "4 - On the new page that appears, record the information on the line "Amount of capital additions" and in the field to the right enter the amount." As I said, assuming that the initial cost is 10,000$, should I put the initial cost in the "Opening balance of undepreciated capital cost" or "Amount of capital additions". If in one of them, what do I have to put on the other one? Also what do I have to put in the "ACB of the depreciable capital property in this class". For the disposition entries I assume that nothing needs to be specified there since I didn't dispose of it, right?
  3. I am looking for help on how to record the depreciation for appliances and furniture for a rental - Class 8. It is the first time that I am recording it for those items and is not a half-year as I bought them last year. Assuming that the initial cost is 10,000$, should I put the initial cost in the "Opening balance of undepreciated capital cost" or "Amount of capital additions". If in one of them, what do I have to put on the other one? Also what do I have to put in the "ACB of the depreciable capital property in this class". For the disposition entries I assume that nothing needs to be specified there since I didn't dispose of it. Please help and thank you.
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