Question
In 2021, a new factory building was acquired by Tyerek Ltd. at a cost of $1,230,000. The estimated value of the land included in the
In 2021, a new factory building was acquired by Tyerek Ltd. at a cost of $1,230,000. The estimated value of the land included in the purchase price is $400,000. The building will be used 100% for manufacturing and processing and an election will be filed to include the building in a separate class. Calculate the maximum CCA that can be claimed by Tyerek Ltd. for the taxation year ending December 31, 2021.
Step by Step Solution
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Step: 1
1 Calculate the depreciable cost of the building The depreciable cost of the bui...
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Advanced Accounting
Authors: Gail Fayerman
1st Canadian Edition
9781118774113, 1118774116, 111803791X, 978-1118037911
