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On the disposal of an asset of a class, there may be a recapture of capital cost allowance (CCA) if the undepreciated capital cost (UCC) at the end of the taxation year, before taking into account the disposition, is less than the lesser of the proceeds of disposition or the capital cost of the asset.
This is part six of the example about how to calculate Capital Cost Allowance (CCA).
This is part five of the example about how to calculate Capital Cost Allowance (CCA). Click here for part four.
This is part four of the example about how to calculate Capital Cost Allowance (CCA).
The following is a list of acronyms used related to registered retirement plans:
An annuitant of an Registered Retirement Savings Plan (RRSP) or Registered Retirement Income Fund (RRIF) is the person for whom the plan or fund provides a retirement income.
A registered retirement income fund is a tax deferred retirement plan registered with the Canada Revenue Agency (CRA). It is usually used to hold property transferred from an RRSP and RPP. Establishing a RRIF can be done at anytime, but must be done no later than the year the annuitant turns 71.
The following is the annual tax-free savings account (TFSA) dollar limit by year:
The CCA rate for Class 10 is 30%. The followings belong to Class 10:
Spousal or common-law partner RRSP is an RRSP that you establish to pay yourself income at maturity, but that your spouse or common-law partner contributes to.