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UCC beginning of the current year: Old brick building (class 1 - 4%) Office equipment $85,000 (Cost $120,000 years ago) 16,000 Additions during the year:
UCC beginning of the current year: Old brick building (class 1 - 4%) Office equipment $85,000 (Cost $120,000 years ago) 16,000 Additions during the year: Brick building - new Office equipment Small tools under $500 Mercedes Benz Company Car 60,000 12,000 15,000 87,000 Disposals during the year: Old brick building Office equipment 65,000 3,000 (purchased for $12.000) Required: Calculate the maximum CCA deduction and closing UCC balance for each relevant class of assets for the current tax year. Ignore any sales tax implications UCC beginning of the current year: Old brick building (class 1 - 4%) Office equipment $85,000 (Cost $120,000 years ago) 16,000 Additions during the year: Brick building - new Office equipment Small tools under $500 Mercedes Benz Company Car 60,000 12,000 15,000 87,000 Disposals during the year: Old brick building Office equipment 65,000 3,000 (purchased for $12.000) Required: Calculate the maximum CCA deduction and closing UCC balance for each relevant class of assets for the current tax year. Ignore any sales tax implications
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