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robert26
New Member

I bought a drafting software license that I will use in my business. Where can I input the price of the software so I can claim in on my Tax return? Thanks.

 
2 Replies
TurboTaxSusan
Moderator

I bought a drafting software license that I will use in my business. Where can I input the price of the software so I can claim in on my Tax return? Thanks.

You can put your (non-system) software license into a Class 12(100%) and take CCA (capital cost allowance) on it. Software in Class 12 is subject to the half‑year rule, so you can write it off over a couple years instead of just one. You can also choose not to take the CCA for a given year, so the amount would remain in your UCC (Undepreciated capital cost) balance until you decide to use it.

 

More information on CCA from the CRA: https://www.canada.ca/en/revenue-agency/services/tax/businesses/topics/sole-proprietorships-partners...


robert26
New Member

I bought a drafting software license that I will use in my business. Where can I input the price of the software so I can claim in on my Tax return? Thanks.

Can I claim the software amount/price every year or just 1 year? Thanks.

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