Question
Question 2 On January 1, 2020, ABC Corp. purchased equipment for $400,000. The equipment belongs to class 8 with a CCA rate of 15%. a)
Question 2
On January 1, 2020, ABC Corp. purchased
equipment for $400,000. The equipment belongs
to class 8 with a CCA rate of 15%.
a) Calculate the allowable CCA deduction for 2020, 2021 & 2022.
b) Assume right after 2022 you sold it for $275,000 and it was the last asset in this class. What are the tax consequences?
c) What are the tax consequences if you sold it for $250,000?
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Sound Investing, Chapter 15 - Liability Tricks
Authors: Kate Mooney
2nd Edition
0071719377, 9780071719377
