If the air conditioner cost you more than $500, it would generally be considered a capital expense, and you would need to claim the expense over a period of several years through the capital cost allowance (CCA) deduction.
The CCA is a tax deduction that allows you to recover the cost of certain capital assets, including the air conditioner, over a period of time. The CRA has established different classes of property, and the CCA rate varies for each class. For example, as a Class 8 asset, the CCA rate for an air conditioner would be 20% per year on a declining balance basis.
For more information please see our TurboTax Website. What is Capital Cost Allowance (CCA)?
Thank you for choosing TurboTax!
