I rented out a house and bought some small appliances for it. Dishwasher is less than $500 CAD. Which Class for depreciation ?
I rented out a house and bought some small appliances for it. Dishwasher is less than $500 CAD. Which Class for depreciation ? Can I use the Class 8 which is stated for Appliance for more than $500
I rented out a house and bought some small appliances for it. Dishwasher is less than $500 CAD. Which Class for depreciation ?
You can add your dishwasher to Class
8 if you want.
The $500 minimum is really just
for tools. However, many people use the $500 as an unofficial minimum for all
class 8 items (and some other classes as well). So if an item costs less than
$500, many people will just claim it as an expense in the year they bought it,
rather than depreciate the asset slowly through CCA.
I rented out a house and bought some small appliances for it. Dishwasher is less than $500 CAD. Which Class for depreciation ?
You can add your dishwasher to Class
8 if you want.
The $500 minimum is really just
for tools. However, many people use the $500 as an unofficial minimum for all
class 8 items (and some other classes as well). So if an item costs less than
$500, many people will just claim it as an expense in the year they bought it,
rather than depreciate the asset slowly through CCA.
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