lding was constructed on March 1, 2020 at a cost of $195,000. The UCC for tax purposes (class 1) at the beginning of 2021 was $177,450.
How can i calculate the CCA
Note 6: The following is the information relating to the fixed assets of the business.
Building: The building is 3,000 sq.m. located at 124 Main Street, Anytown, ON. A third (1/3) of the surface is used as a showroom for the customised motorcycles. The rest of the building (2/3) is used as a shop for mechanic and customization work. The building was constructed on March 1, 2020 at a cost of $195,000. The UCC for tax purposes (class 1) at the beginning of 2021 was $177,450.
Truck: The truck is a Ford F150 extended cab pick-up that James uses for both business and personal purposes – see Note 7 for operating costs. The truck was purchased on June 1, 2020 at a cost of $55,000. For tax purposes, maximum CCA was deducted in 2020 leaving a UCC balance on January 1, 2021 of
$16,500. . Is this Class 10
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