The depreciation method currently allowed under Canadian tax law governing the write-off of property under various classiﬁcations is called _____ depreciation.

Question

Quizplus · Accepted Answer

The correct depreciation method allowed under Canadian tax law is called Capital Cost Allowance (CCA), which is a declining balance method. This method allows for a faster write-off of assets in the early years of an asset's life and a slower write-off in later years. This method is commonly used in Canada for tax purposes.

The Depreciation Method Currently Allowed Under Canadian Tax Law Governing