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 Bulk Forms Order CCA Division of Taxation Cleveland 2023-2024

Cca W 3 2023-2024 Form

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hi welcome to random learning today we will do a question that will help you uh to compute cca so first of all you should know what is cca cca is a capital cost allowance i hope you know what is depreciation so cca is a depreciation for tax purposes other thing you need to know asset class so every capital asset has its asset class and that is allocated by the government and each asset class has a different cca rate for example 10 percent 20 percent or 30 percent and the other term you need to know here ucc you can look at here in the table beginning gcc gcc is undepreciated capital cost and they you also need to know a very important thing that is a half year rule so keep in mind in year one uh if you have company your company can claim cca on half of the assets cost in simple terms 50 of the assets cost is eligible for cca purposes so let's do one question how to compute cca so a very simple question here a company bought a machinery of worth 150 000 in 2019 assume that this asset fa

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