Jump to content

CCA for older equipment


Recommended Posts

If I started doing freelance side work last fall using a computer I've had since 2017, can I claim CCA on it? I'm thinking yes, but I would have to start it with an Adjusted Cost Base (ACB), yeah? Start it's ACB as the current market value of the computer?

But then I'm unsure of what amount to enter into both the "Opening balance of the undepreciated capital cost" and the ACB.

Any help would be greatly over-appreciated 😁

Link to comment
Share on other sites

Good day,

You can claim CCA on the computer.
You are deemed to have acquired it on the first day of your business.

Use Class 50 55%
Opening balance of the undepreciated capital cost - leave blank (an amount will show next year)
ACB of the depreciable capital property - 
current market value of the computer
Amount of capital additions (other than AIIP) - current market value of the computer

If your business beginning date is other than January 1st, the CCA amount will be prorated to the number of months in your business fiscal year.

Link to comment
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

  • Create New...