Under capital cost allowance, which one of the following is not considered in determining depreciation for tax purposes?

Question

Quizplus · Accepted Answer

Residual value is not considered in determining depreciation for tax purposes. The capital cost allowance is calculated based on the cost of the asset, class of the asset and the half-year convention. The residual value, which is the estimated value of the asset at the end of its useful life, is not factored into the calculation of depreciation for tax purposes.

Under Capital Cost Allowance, Which One of the Following Is