UCC COMPREHENSIVE EXAMPLE
The following undepreciated capital cost balances were found in the
indicated classes of depreciable assets on the books of Tax
Appreciation Limited, as of January 1, 2022:
Class 3 (5%)
Class 8 (20%)
Class 10 (30%)
Class 1 (4%)
Class 12 (100%)
$60,000
150,000
20,000
0
0
Additional information and transactions during 2022:
(1) Purchases
Building, Class 1
Furniture, Class 8
Delivery van, Class 10
(2)
Disposals
Building, Class 3
Furniture, Class 8
Delivery van, Class 10
Tools, Class 12
Cost Proceeds
$75,000 $95,000
5,000
3,000
11,000
5,000
70,000
10,000
Additional information and transactions during 2023:
(1) Purchases
Equipment, Class 8
Delivery van, Class 10
(2)
Disposals
Equipment, Class 8
Linen, Class 12
300,000
25,000
20,000
$60,000
9,000
Cost Proceeds
$35,000 $20,000
5,000
2,000
Required:
Prepare a schedule showing the maximum CCA that can be claimed
for tax purposes in 2022 and 2023.