You passenger vehicle can belong to either class 10 or class 10.1 depending on the cost of the vehicle. If it costs more than $30,000 (cost limit) before GST and PST or HST, it belongs to class 10.1. The rules of capital cost allowance (CCA) between these two classes are different.
The following compares CCA class 10 and class 10.1:
| Topics | Class 10 | Class 10.1 |
|---|---|---|
| CCA rate | 30% | 30% |
| Group all vehicles in one class | yes | no |
| List each vehicle separately | no | yes |
| Maximum capital cost | no | yes |
| 50% rule on acquisitions | yes | yes |
| Half year rule on sale | no | yes |
| Recapture on sale or trade-in | yes | no |
| Terminal loss on sale or trade-in | no | no |