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Capital Cost Allowance (Depreciation) (Typical Classes and Rates…
Capital Cost Allowance (Depreciation)
Typical Classes and Rates
Buildings
Class 6 (10%)
Class 31 (5%)
Class 3 (5%)
Class 32 (10%)
Class 1 (4%)
Furniture & equipment
Class 8 (20%)
Computer equipment
Class 45 (45%)
Class 55 (55%)
property purchase
land
not a depreciable asset
building
depreciable
Rule
Half-year rule
in the first year an asset is purchased, only ½ of the CCA is allowed
Form T776
calculate and keep track of the CCA