The Regulations that accompany the Canadian Income Tax Act require that capital cost allowance (CCA)be calculated generally on a declining balance of each single depreciable asset.

Name: The Regulations that accompany the Canadian Income Tax Act require that capital cost allowance (CCA)be calculated generally on a declining balance of each single depreciable asset.
Brand: Quizplus
Rating: 4.9 (45 reviews)

Question

Quizplus · Accepted Answer

The CCA is generally calculated on a declining balance basis for classes of assets, not for each single depreciable asset.

The Regulations That Accompany the Canadian Income Tax Act Require