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What is the maximum cca that can be deducted for machine

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Reference no: EM132941611

Problem 1: A unincorporated sole proprietorship has a calendar fiscal year and acquires a machine on April? 1, 2020. The machine has a cost of ?$63,345. The proprietor pays a contractor $22,454 to install the machine and plus a? non-refundable provincial sales tax of $9,173. The machinery is a Class 8 asset. Assuming that the opening UCC for Class 8 assets is? $0, what is the maximum CCA that can be deducted for this machine in fiscal year 2020?

Reference no: EM132941611

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