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New Member
posted Oct 30, 2019 11:29:50 AM

What is my CCA For Year 2017? My CCA 2016 for purchased vehicle that year was $33,600 for 2016 = $10,080 x 50% = $5,040. Turbo says no greater than $3,084.48 for 2017?

0 2 805
2 Replies
New Member
Oct 30, 2019 11:29:52 AM

Capital Cost Allowance (CCA) is calculated on a declining balance. And further reduced by the proration of business over total KM driven in the year.

New Member
Oct 30, 2019 11:29:53 AM

Capital Cost allowance in 2016 was $30,000 (net of sales tax) x (.3)x(.5) = $4,500 (Biz KM/ TTL Km driven) = net CCA which results in a UCC for 2017 of $30K - $4,500 = $26,500 x .3 = $7950  (Biz KM/ TTL Km driven) =$3084.48 which judging by the answer provided in Turbo Tax indicates you are using your vehicle 31% of the time for business.