Sheela owns two residential rental properties. Both properties are in a separate Class 1(CCA rate- 4%). At the beginning of the year, Property A has a cost of $300,000, UCC of $200,000 and Property B has a cost $260,000, UCC of $136,000. In 2020, Sheela added major capital improvements to Property B for a cost of $26,000. What is the maximum CCA available for Mike to claim?
Sheela owns two residential rental properties. Both properties are in a separate Class 1(CCA rate- 4%). At the beginning of the year, Property A has a cost of $300,000, UCC of $200,000 and Property B has a cost $260,000, UCC of $136,000. In 2020, Sheela added major capital improvements to Property B for a cost of $26,000. What is the maximum CCA available for Mike to claim?
Chapter5: Introduction To Business Expenses
Section: Chapter Questions
Problem 35P
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Transcribed Image Text:Sheela owns two residential rental properties. Both properties are in a separate
Class 1(CCA rate - 4%).
At the beginning of the year, Property A has a cost of $300,000, UCC of $200,000
and Property B has a cost $260,000, UCC of $136,000. In 2020, Sheela added
major capital improvements to Property B for a cost of $26,000.
What is the maximum CCA available for Mike to claim?
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Publisher:
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