Immediate expensing property (IEP) is property acquired by an eligible person or partnership (EPOP) and includes all property subject to the capital cost allowance (CCA) rules, but excludes property included in the following CCA classes (generally long-lived asset classes):
- Classes 1 to 6 (e.g., buildings, greenhouses, structures);
- Class 14.1 (e.g., goodwill);
- Class 17 (e.g., surface construction such as roads);
- Class 47 (e.g., transmission or distribution equipment and structures used for transmission or distribution of electrical energy);
- Class 49 (e.g., pipelines, including monitoring devices, valves, etc. used for the transmission of oil and gas); and
- Class 51 (e.g., pipelines, including control and monitoring devices, valves, etc. used to distribute natural gas).
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