On July 1 of the current year F purchased a franchise and commenced operating a new...
On July 1 of the current year F purchased a franchise and
commenced operating a new business as a sole proprietor. The
franchise cost $100,000 and has a 10-year term. What is the maximum
CCA deduction that F can claim in the current year?
Homework Answers
Capital cost allowance ( CCA Deduction ) -
Franchise Cost = $ 100000
term - 10 years
Current year claim = total cost / no of year = 100000/10 = $10000
remaining period in current year = 6 month ( july to december )
So current year maximum CCA deduction = 10000/12* 6 = $ 5000
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