COMMERCE 4SB3 Chapter Notes - Chapter 5: Fixed Asset
6 Dec 2017
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Chapter 5 - depreciable capital property and eligible c. Page 256 - fixed asset classes for cca - add to formula sheet. Most fixed asset class gets most of that class dumped into that pool. E. g. all manufacturing class will be dumped into class 1mb - 10% If you have a non-residential building - depreciated under declining balance class under class 1nb. Residential building - class 1 depreciable at 4% There is a bunch of weird buildings that have separate classes. Before that every building went into class 1. Manufacturing building gets beat up faster so they go into a different class. There is no such thing as salvage value when depreciation asset for tax. Example of class 1 - depreciable at 4 % is rental building. If you cant find a class to put it in then - default goes to class 8.
