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posted Oct 30, 2019 10:26:01 AM

When entering UCC , can I simple add class 6 capital cost items of less than one dollar together and make a single entry or can I simply drop them from my filing?

0 1 706
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Moderator
Oct 30, 2019 10:26:02 AM

Things that cost less than a few hundred dollars are usually deducted as expenses. Some classes even specify a minimum cost – ex: Class 12 & 8 items must be a minimum of $500.

FYI: Class 6 is buildings, additions or alterations to said buildings, certain greenhouses and fences. https://www.canada.ca/en/revenue-agency/services/tax/businesses/topics/sole-proprietorships-partners...