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posted Apr 30, 2022 6:53:35 AM

I spent $500 on a new desk for my home office. Do I have to capitalize this expense?

What is the minimum limit for capitalizing an expense?

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1 Replies
Level 3
Dec 7, 2022 1:37:20 PM

As per the Canada Revenue Agency (CRA), furniture costing $500 or more will be capitalized under the Class 8 Capital Cost Allowance (CCA).
For more information, please read this CRA page - Capital cost allowance (CCA) classes 
 
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