During 2019, XYZ Inc.bought office equipment for $50,000.The equipment falls into class 8 with a CCA rate of 20%.Assuming that the equipment is the only asset in that class, what is the maximum CCA that XYZ Inc.can claim for 2019 with respect to the equipment?

Question

Quizplus · Accepted Answer

The maximum CCA that can be claimed for class 8 assets is 20%. Therefore, the maximum CCA that XYZ Inc. can claim for the office equipment is $10,000 (20% of $50,000).