CCA Class 54 is not calculating correctly. It is taking an enhanced first year rate of 100% rather than 75%. This is causing a huge difference in the CCA deduction.
CCA Class 54 is not calculating correctly. It is taking an enhanced first year rate of 100% rather than 75%. This is causing a huge difference in the CCA deduction.
But the question is still why is the program calculating the wrong amount? The programs asks when the vehicle was purchased. So Based on that alone it should correct itself to calculate at 1 1/5.
And if we were to override the numbers on the form we will then be ineligible to file through netfile.
CCA Class 54 is not calculating correctly. It is taking an enhanced first year rate of 100% rather than 75%. This is causing a huge difference in the CCA deduction.
Hi Susan, sorry you're right the CRA guidelines were not updated for some reason. Thank you for sharing the link for the updated T2125
CCA Class 54 is not calculating correctly. It is taking an enhanced first year rate of 100% rather than 75%. This is causing a huge difference in the CCA deduction.
@user17734123570 For CCA purposes, the date is either the date you bought the vehicle (if it was bought in 2025), or the date that you started using the vehicle for business in 2025.
You have clicked a link to a site outside of the TurboTax Community. By clicking "Continue", you will leave the Community and be taken to that site instead.
Sign In
Canada (English)
EN
