- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
I rented out a house and bought some small appliances for it. Dishwasher is less than $500 CAD. Which Class for depreciation ?
I rented out a house and bought some small appliances for it. Dishwasher is less than $500 CAD. Which Class for depreciation ? Can I use the Class 8 which is stated for Appliance for more than $500
Topics:
October 30, 2019
10:35 AM
- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Investors and rental owners
You can add your dishwasher to Class 8 if you want.
The $500 minimum is really just for tools. However, many people use the $500 as an unofficial minimum for all class 8 items (and some other classes as well). So if an item costs less than $500, many people will just claim it as an expense in the year they bought it, rather than depreciate the asset slowly through CCA.
October 30, 2019
10:35 AM