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3 Cards in this Set
- Front
- Back
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Can you claim CCA on a rental property? |
Yes! Only limitations with PRE. “PRE” - Principal residence exemption for rental properties. If CCA claimed on rental property, cannot use PRE. |
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What is the Accelerated Investment Incentive? |
An augmented rate of 1.5 for property purchased after November 1, 2018 |
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Can you claim CCA for a company with a short tax year? |
Yes! Prorate the CCA after AII is applied: “Equipment purchased for $20,000. Company started operations mid year in June 1, 20xx”. $20,000 x 20% x 1.5 x 232/365 days |
