Question
Sun Ltd., with a taxation year that ends on December 31 and has a Class 8 UCC balance on January 1, 2022 of $475,000. During
Sun Ltd., with a taxation year that ends on December 31 and has a Class 8 UCC balance on January 1, 2022 of $475,000. During 2022, the company purchases a Class 8 property for $150,000 that is eligible for the AccII. The Company also disposes of a Class 8 property for proceeds of $72,000 which is below the property's capital cost.
Required: Determine the maximum Class 8 CCA that Sun Ltd. can claim for 2022 including the UCC balance as of January 1, 2023.
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Principles Of Financial Accounting (Chapters 1-17)
Authors: John Wild
25th Edition
1260780147, 9781260780147
