We have a truck used for business since 2022 but have not deducted expenses for it in other years. Does the half-year rule apply for CCA if claimed for this year, 2024?
We have a truck used for business since 2022 but have not deducted expenses for it in other years. Does the half-year rule apply for CCA if claimed for this year, 2024?
We are a general partnership. The truck was originally purchased in 2018 pre-dating the establishment of the business and has been used for business purposes since 2022 but never claimed for deductions as not previously needed and mileage log not complete iin full until this year. I'm wondering if the CCA rate will be at 30% (Class 10) or if because for tax purposes the acquisition of the vehicle was 2024 if the half-year rule applies and the rate will be 15%.
We have a truck used for business since 2022 but have not deducted expenses for it in other years. Does the half-year rule apply for CCA if claimed for this year, 2024?
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