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I was required to purchase a computer for my employment. I am told that this can be written off at 50% as a CCA. I cannot find where to do this on the 2014 tax return.
I was required to purchase a computer for my employment. I am told that this can be written off at 50% as a CCA. I cannot find where to do this on the 2014 tax return. I am checking the "other expenses relarted to employment" page and I am not seeing it.
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CRA indicates that if you are a salaried employee, you cannot deduct the cost of a computer and you cannot deduct capital cost allowance on this equipment. For further info please see http://www.cra-arc.gc.ca/tx/ndvdls/tpcs/ncm-tx/rtrn/cmpltng/ddctns/lns206-236/229/slry/sppls-eng.htm...
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demutis, I agree this seems unfair. But I guess their decision is based on the fact that almost everyone has a computer these days and it would be impossible to determine business vs personal use . Whereas it is very likely that most tools used by tradespeople or musical instruments used by salaried musicians have little or no amount of personal use and are not commonly used by most people. Thus they are allowed to claim certain amounts for these on their tax returns.
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First, you must have your employer sign a T2200 stating that the purchase of the computer was a requirement of your employment. Once that is signed, you can then fill out the T777 for employment expenses and assets. The computer will be entered as an addition to fixed assets, but due to the half-year rule, you can only claim half of the 50% in the year of acquisition. You will need to answer yes to employment expenses in the profile questions.