Claiming Capital Cost Allowance for the First Time

I purchased a vehicle for business use in 2018, but did not claim capital cost allowance last year. I plan to claim it this year, but I do not know what my Undepreciated capital cost (UCC) at the beginning of the year is. Is it the full value I paid for the vehicle + HST?

643

Employee Tax Expert

Mar 12, 2020 8:48:31 AM

HST is included in the capital cost of a vehicle used for self-employment (business) except not if you are registered for HST and you recovered the HST via input tax credit.

Why sign in to the Community?

Claiming Capital Cost Allowance for the First Time