You would still use Class 8 for every piece of equipment, except that there would only be one asset in that class. Class 10 cannot be used in this case because it is used for vehicles under $30,000 or computer hardware purchased at a certain period of time before 2005. Since you have 4 different items over $500 which wear out at their own pace, it is advisable to submit each tool in its own Class 8 to get a terminal loss. When you dispose of the item, you can get a terminal loss because there will be nothing left in the class. However, if you have everything in Class 8, the expensive things that are replaced often will be taken out of the class, but since there are other items in the class, you won’t be able to take a terminal loss on the item.

Related Information:

Canada Revenue Agency (CRA) List of common Capital Cost Allowance (CCA) classes

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