Solved: Can i claim computers, harddrives and other hardwa...

Why sign in to the Community?

  • Submit a question
  • Check your notifications
or and start working on your taxes
EnglishEN

Pick a language

Français English
cancel
Showing results for 
Search instead for 
Did you mean: 
Highlighted
New Member

Can i claim computers, harddrives and other hardware purchased exclusivley for my business?

Is it possible for me to deduct the cost of computers, harddrives and other computer hardware purchased exclusivley for my business?

1 Best answer

Accepted Solutions
Highlighted
Moderator

Can i claim computers, harddrives and other hardware purchased exclusivley for my business?

Yes, you are able to claim your computers and hardware used for business purposes. Rather than deduct the entire amount as a business "expense", you have to deduct the cost over time by "depreciating" the items and claiming Capital Cost Allowance (CCA). 

These items would be entered in Class 50 (55%)

"Include in Class 50 with a CCA rate of 55% property acquired after March 18, 2007, that is general-purpose electronic data processing equipment and systems software for that equipment, including ancillary data processing equipment".


https://turbotax.intuit.ca/tips/what-is-capital-cost-allowance-2016

https://www.canada.ca/en/revenue-agency/services/tax/businesses/topics/sole-proprietorships-partners...

View solution in original post

1 Reply
Highlighted
Moderator

Can i claim computers, harddrives and other hardware purchased exclusivley for my business?

Yes, you are able to claim your computers and hardware used for business purposes. Rather than deduct the entire amount as a business "expense", you have to deduct the cost over time by "depreciating" the items and claiming Capital Cost Allowance (CCA). 

These items would be entered in Class 50 (55%)

"Include in Class 50 with a CCA rate of 55% property acquired after March 18, 2007, that is general-purpose electronic data processing equipment and systems software for that equipment, including ancillary data processing equipment".


https://turbotax.intuit.ca/tips/what-is-capital-cost-allowance-2016

https://www.canada.ca/en/revenue-agency/services/tax/businesses/topics/sole-proprietorships-partners...

View solution in original post

v