Where do I enter newly acquired assets?

[TaxesHurtMyBrain]

Hi,

I'm using UFile T2.  I can't seem to find where to enter the value of newly acquired assets (in this case computer hardware) so it ends up in Schedule 8 Column 3 of the Tax Return. I have the Capital Cost Allowance Class 50 form already from previous years (in the Interview section).

Thanks in advance for any help!

 

[RaviT2]

Hey,

      I am also in same problem from yesterday,need to enter newly acquired computer, so that i could end up creating schedule 8. Any solutions ???

 

Thanks,

Ravi

[Nawal]

Hi @TaxesHurtMyBrain, Please enter the additions, whether they are eligible or non- eligible for the Accelerated investment incentive property (AIIP).

Computers:

>>Capital cost allowance >>Class 10/12 (computers Quebec only) OR Class 10 >>

>Date the asset was acquired ...

>Non-accelerated investment incentive property additions - amount and description [$amount]

(>Limit this class to specific CCA/CECA amount -If you want to limit the CCA amount)

Class 10 with a CCA rate of 30% includes general-purpose electronic data processing equipment (commonly called computer hardware) and systems software for that equipment, including ancillary data processing equipment

[TaxesHurtMyBrain]

Thanks, that was well hidden in the form - it looked to me like those fields were related to real estate (it is directly following the fields related to disposing of real estate). Perhaps sectioning off the form between old assets, new assets and disposing of assets (with headers) would make things clearer.  

 

[RaviT2]

My CCA schedule 8 is giving incorrect results for Class 8 & class 50. It should be Calculating 20% and 55% , but its is not calculating like that. Calculation is done based on 18% or 50%. Which is incorrect.

Please see encircle amount