Passenger vehicles costing greater than $30,000 are each in a separate class 10.1 (also 30% CCA, 15% in the first year, calculated on the cost limit of $30,000). The half-year rule means that in the year that you purchased the vehicle, you can only claim a half-year of Capital Cost Allowance (50%). The CCA limit for a passenger vehicle cost is $30,000 so even if the price of a the vehicle exceeds $30,000 you can only claim $30,000 plus the GST (or HST) on $30,000 – no matter what the vehicle actually cost you. So if you bought a new van for $43,000 to use in your business, this vehicle would be in Capital Cost Allowance Class 10.1, as it cost you more than $30,000 and you would only be able to claim a capital cost of $30,000 plus the applicable GST (or HST) on $30,000.
