CCA-ClassDT Max will allow you to enter separate classes for all classes. All separate CCA-Class groups entered will be treated as separate CCA classes on schedule 8. Separate classes are allowed for property of the same class relating to separate businesses and for property of the same class which is held for different purposes i.e. earning income from business vs. earning income from property (see Fed Income Tax Reg. 1101).Enter the amount of depreciation and amortization claimed on the books in the NetIncome group in the Depreciation keyword.
Enter disposals of property in the relevant CCA-Class group. DT Max will calculate any capital gains (and losses for land only) on schedule 6. Enter any gains (losses) recorded on the books in the NetIncome group in the Net-Inc-Add or Net-Inc-Ded keyword.
Federal accelerated investment incentive
In the 2018 Fall Economic Statement, the government introduced an accelerated investment incentive in the form of an enhanced allowance in the first year for capital property that is subject to CCA rules. The accelerated investment incentive will be available for eligible property acquired and available for use after November 20, 2018. These eligible properties will not be subject to the half-year rule and will be entitled to an increase in the capital cost allowance depending on the class.
Quebec accelerated depreciation of property Quebec capital cost allowance will be harmonized with the measures announced by the federal government with respect to the above-mentioned accelerated depreciation. In addition, the government of Quebec has announced that for qualified intellectual property (Classes 14, 14.1 and 44) and property composed of general-purpose electronic data processing equipment (Class 50) acquired after December 3, 2018, taxpayers may deduct the full cost of acquisition.
Revenu Québec document IN-191 (Capital cost allowance in respect of property acquired after November 20, 2018) contains instructions for calculating the following:
- capital cost allowance in respect of depreciable property acquired after November 20, 2018; and Click here if you wish to access the IN-191 document.
The following options are applicable for the keyword CCA-Class.
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See the CRA's general income tax guide: DIEP-AssetUse the keyword DIEP-Asset to indicate whether or not the information entered in this class pertains to a car that is designated immediate expensing property (DIEP) acquired after April 18, 2021 and that becomes available for use before January 1, 2024.The following options are applicable for the keyword DIEP-Asset.
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See the CRA's general income tax guide: UCCOpenThis is the opening undepreciated capital cost or cumulative eligible capital. The amount entered will appear on schedule 8. Use [Alt-J] to enter different values for other jurisdictions.
Descript-UCCEnter the description of the assets entered in this CCA-CLASS group to be printed on schedule 8.
LNG-IncomeUse the keyword LNG-Income to enter the income for the year from the eligible liquefaction activities in respect of the eligible liquefaction facility.
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See the CRA's general income tax guide: Mine-IncomeUse the keyword Mine-Income to enter the income for the year from the mine before making any deduction under paragraph (x), (y), (y.1), (ya) or (ya.1), section 65, 66, 66.1, 66.2 or 66.7 of the Act or section 29 of the Income Tax Application Rules.
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See the CRA's general income tax guide: ACB-InfoUse ACB-Info to keep a database of the adjusted cost base of the asset(s) in this class.When assets are disposed, if the class is liquidated, the total ACB amounts entered will be used to calculate recapture or terminal loss. Use [Alt-J] to enter different values for other jurisdictions.
ACB-CarThe ACB-Car of an automobile in Class 10.1 can only be entered once since separate classes are required for each Class 10.1 automobile. Use [Alt-J] to enter different values for other jurisdictions.
Asset-DescriptionWhen there is a disposition of this vehicle, the information entered in the keyword Asset-Description and in the keyword Disposal must match exactly.
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See the CRA's general income tax guide: ACB-Info.cBoth the original cost (before sales tax) and the prescribed limit are required to calculate the adjustment of proceeds when the cost exceeds the allowed cost. For a zero emission passenger vehicle the prescribed limit is $61,000 after 2022, $59,000 in 2022 and $55,000 before 2022, plus sales taxes payable on the amount. For a Class 10.1 vehicle the prescribed limit is $36,000 after 2022, $34,000 in 2022 and $30,000 before 2022, plus sales taxes payable on the amount.The following options are applicable for the keyword ACB-Info.c.
Rental-PropertyUse the keyword Rental-Property to indicate whether or not this CCA class group is linked to a particular rental property within the IncomeSource group.If rental property is owned through a co-ownership or a partnership, enter the corporation's share of CCA class.
The following options are applicable for the keyword Rental-Property.
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See the CRA's general income tax guide: Rental-SequenceIf you have answered "Yes" to the keyword Rental-Property, use the keyword Rental-Sequence to enter the sequence number corresponding to the rental property in IncomeSource group.
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See the CRA's general income tax guide: DisposalUse the keyword Disposal to enter the description of the asset disposed of in the year. This keyword will open the group of keywords necessary to enter all data relevant to dispositions.
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See the CRA's general income tax guide: Proceeds.ccEnter the gain (loss) on disposal of the property recorded in the corporation's financial statements in the Net-Inc-Add or Net-Inc-Ded keyword of the NetIncome group. DT Max will adjust net income on schedule 1 for the book gain (loss).Use [Alt-J] to enter different values for other jurisdictions.
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DIEP-ProceedUse the keyword DIEP-Proceed to enter the gross proceeds from the disposition of the designated immediate expensing property (DIEP). This refers to the portion of the gross proceeds from disposition entered within keyword Proceeds.cc that relates to the DIEP asset acquired in the current year.The following options are applicable for the keyword DIEP-Proceed.
ACB-DispIf an ACB database was not entered for this class by using the ACB-Info keyword, use ACB-Disp to indicate the adjusted cost base of asset(s) disposed of.If assets remain in the class and an ACB database was entered, ACB-Disp must be entered to indicate the adjusted cost base of the asset(s) disposed of. Next year, adjust the ACB database by removing asset(s) no longer in the class. Use [Alt-J] to enter different values for other jurisdictions.
Expense-DispUse Expense-Disp to enter expenses associated with the disposition of assets entered in this class. The amount entered will be deducted from the proceeds of disposition for this disposal on schedule 8, to determine the amount of the CCA class reduction, and schedule 6, to determine the gain (depreciable property and land) or loss (land only), schedules. Use [Alt-J] to enter different values for other jurisdictions.
Date-Acq.CCAUse the keyword Date-Acq.CCA to enter the date the asset was acquired.
DeemedDispFed ITA sect. 111(4)(e) allows a corporation in the year of a change of control to designate dispositions of capital property. Thus, deemed capital losses arising on the change of control can be offset against capital gains on the designated dispositions. When"YES" is chosen here, DT Max will tick the "YES" box related to this question on schedule 6 and the Quebec CO-17S.232 form. A separate schedule indicating which properties are subject to such a designation needs to be attached to the forms filed.The following options are applicable for the keyword DeemedDisp.
DateDisp.CCAEnter the date of the disposition in this group for your own information purposes only. This information is not used by DT Max.
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PropertyTypePropertyType must be entered in the year of a disposal. The property disposed of must be classified on schedule 6 as real estate or other property, except when a loss on depreciable property occurs.The following options are applicable for the keyword PropertyType.
NAL-DispUse the keyword NAL-Disp to indicate if the vehicle is disposed of to a person or partnership with which the corporation deals at non-arm's length.The following options are applicable for the keyword NAL-Disp.
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GainOV.CCAGainOV.CCA will override the calculated gain on the property disposed of. Enter the gain (loss) on disposal of the property recorded in the corporation's financial statements in the Net-Inc-Add or Net-Inc-Ded keyword of the NetIncome group. DT Max will adjust net income on schedule 1 for the book gain (loss). Use [Alt-J] to enter different values for other jurisdictions.
Muni-Address.caUse the keyword Muni-Address.ca to enter the municipal address of the real estate depreciable property.
More-InfoUse the keyword More-Info to enter additional address information. This will be line two of the address.
City.eUse the keyword City.e to enter the city name. DT Max will not check the spelling of the city name.
Province.eUse the keyword Province.e to select the province.The following options are applicable for the keyword Province.e.
State.eUse the keyword State.e to select the state.
Country.eUse the keyword Country.e to select the country.
PostCode.eUse the keyword PostCode.e to enter the postal code. DT Max will make sure that it is in the correct format and will always enter the alphabetic portions in upper case.
ZIPCode.eUse the keyword ZIPCode.e to enter the zip code.
For-Post.eUse the keyword For-Post.e to enter the foreign postal code.
LiquidateSpecify whether you have liquidated the class with the keyword Liquidate and enter the net proceeds.The following options are applicable for the keyword Liquidate.
Gift.CCASpecify whether this is a recapture resulting from a gift of capital property made in the year. 25% of the recapture will be used to calculate the limit on net income for donations.The following options are applicable for the keyword Gift.CCA.
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Elig-Amt.CCAUse the keyword Elig-Amt.CCA to enter the eligible amount of the gift.
ITC-CodeUse ITC-Code to indicate that an ITC is to be claimed on any current year addition(s) to this class and DT Max will automatically calculate the ITC on schedule 31.Qualifying property is property acquired primarily for use in Newfoundland and Labrador, Prince Edward Island, Nova Scotia, New Brunswick, the Gaspé Peninsula, or a prescribed offshore region. The following options are applicable for the keyword ITC-Code.
ITC-AdditionUse ITC-Addition to enter current year non-accelerated investment incentive property additions to this CCA class which qualify for an ITC of the type entered in ITC-Code. Enter non-qualifying ITC additions in the Additions keyword. Use [Alt-J] to enter different values for other jurisdictions.
ITC-Addition-AIIPUse ITC-Addition-AIIP to enter current year accelerated investment incentive property additions to this CCA class which qualify for an ITC of the type entered in ITC-Code. Enter accelerated investment incentive property additions that are not qualifying for ITC in the Additions-AIIP keyword. Use [Alt-J] to enter different values for other jurisdictions.
ITC-Addition-DIEPUse ITC-Addition-DIEP to enter current year designated immediate expensing property additions to this CCA class which qualify for an ITC of the type entered in ITC-Code. Enter designated immediate expensing property additions that are not qualifying for ITC in the Additions-DIEP keyword. Use [Alt-J] to enter different values for other jurisdictions.
AdditionsEnter any current year non-accelerated investment incentive property additions to this CCA class in the Additions keyword.If the addition is not subject to the half-year CCA rule, choose "NO" in the HalfYr-CCA keyword in this group. Use [Alt-J] to enter different values for other jurisdictions.
Additions.cEnter any current year non-accelerated investment incentive property additions that occurred after Dec 31, 2016 to this CCA class (class 14.1), indicated in the CCA-Class keyword, in the Additions.c keyword.If the addition is not subject to the half-year CCA rule, choose "NO" in the HalfYr-CCA keyword in this group. Use [Alt-J] to enter different values for other jurisdictions.
Additions-AIIPUnder the Accelerated Investment Incentive, capital investments will generally be eligible for a first-year deduction for depreciation equal to up to three times the amount that would otherwise apply in the year an asset is put in use. Tripling the current first-year rate will allow businesses to recover the initial cost of their investment more quickly. The Accelerated Investment Incentive will apply to all tangible capital assets, including long-lived investments like buildings. The Accelerated Investment Incentive will also apply to intangible capital assets, such as patents and other intellectual property.The Accelerated Investment Incentive will effectively suspend the half-year rule (and equivalent rules for Canadian vessels and Class 13 property) in respect of eligible property. The allowance will then generally be calculated by applying the prescribed CCA rate for a class to one-and-a-half times the net addition to the class for the year. As a result, property currently subject to the half-year rule will, in essence, qualify for an enhanced CCA equal to three times the normal first-year allowance and property not currently subject to the half-year rule will qualify for an enhanced CCA equal to one-and-a-half times the normal first year allowance. For example, prior to the introduction of the Accelerated Investment Incentive, a property in Class 8, which has a prescribed rate of 20 per cent, would be eligible for CCA of 10 per cent of the cost of the property in the year it becomes available for use, due to the half-year rule. Under the Accelerated Investment Incentive, the taxpayer will be eligible for CCA of 30 per cent of the cost of the property that is one-and-a-half times the CCA calculated using the prescribed rate of 20 per cent or three times the 10-per-cent CCA that could otherwise be claimed in the first year. The Income Tax Act and the Income Tax Regulations include a series of rules designed to protect the integrity of the CCA regime and the tax system more broadly. These include rules related to limited partners, specified leasing properties, specified energy properties and rental properties. In certain circumstances, these rules can restrict a CCA deduction, or a loss in respect of such a deduction, that would otherwise be available. These integrity rules will continue to apply. Certain additional restrictions will be placed on property that is eligible for the Accelerated Investment Incentive. Property that has been used, or acquired for use, for any purpose before it is acquired by the taxpayer will be eligible for the Accelerated Investment Incentive only if both of the following conditions are met:
The Accelerated Investment Incentive will apply to qualifying assets acquired after November 20, 2018. It will be gradually phased out starting in 2024, and no longer in effect for investments put in use after 2027. Enter any current year accelerated investment incentive property (AIIP) additions to this CCA class in the Additions-AIIP keyword. Use [Alt-J] to enter different values for other jurisdictions.
Portion-AIIP-QCFor Quebec purposes, enhancement of the harmonized accelerated investment incentive allows for the immediate full expensing of the cost of qualified intellectual property and general-purpose electronic data processing equipment where the property is acquired after December 3, 2018 and becomes available for use before 2024.For Classes 14.1, 44 and 50, use the keyword Portion-AIIP-QC to enter the Quebec portion of the accelerated investment incentive property additions minus the GST, PST, HST rebate that have been entered with the keywords Additions-AIIP, ITC-Addition-AIIP, or GSTPSTReb-AIIP that is qualified intellectual property and general-purpose electronic data processing equipment allowing for the full cost of the property to be deductible in the year it is available for use.
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See the CRA's general income tax guide: Additions-DIEPUse the keyword Additions-DIEP to enter an addition of a property acquired after April 18, 2021 by a corporation that was a Canadian-controlled private corporation (CCPC) throughout the year which became available for use in the tax year (before 2024) and was designated as such on or before 12 months after the filing-due date for the tax year to which the designation relates.A property can only qualify as DIEP in the year in which it becomes available for use. See subsection 1104(3.1) of the Regulations for more information. Use [Alt-J] to enter different values for other jurisdictions.
Asset-CodeUse the keyword Asset-Code to indicate the type of asset code pertaining to the Additions, Additions-AIIP, ITC-Addition or ITC-Addition-AIIP keywords.The following options are applicable for the keyword Asset-Code.
Province.aUse the keyword Province.a to indicate the province where the asset is located pertaining to the Additions, Additions-AIIP, ITC-Addition or ITC-Addition-AIIP keywords.The following options are applicable for the keyword Province.a.
Asset-Alloc%Use the keyword Asset-Alloc% to indicate the percentage allocated to the asset pertaining to the Additions, Additions-AIIP, ITC-Addition or ITC-Addition-AIIP keywords.
Addition-CarThe addition of an automobile to Class 10.1 can only be entered once since separate classes are required for Class 10.1 property.Enter the cost of the car excluding GST, PST and HST. The amount of GST, PST or HST paid on the cost should be entered in the keyword GSTPSTCost ($36,000 after 2022, $34,000 in 2022, $30,000 if in 2021 or before). Use [Alt-J] to enter different values for other jurisdictions.
Addition-Car-AIIPThe accelerated investment incentive property (AIIP) addition of an automobile to Class 10.1 can only be entered once since separate classes are required for Class 10.1 property.Enter the cost of the car excluding GST, PST and HST. The amount of GST, PST or HST paid on the cost should be entered in the keyword GSTPSTCost ($36,000 after 2022, $34,000 in 2022, $30,000 if in 2021 or before). Under the Accelerated Investment Incentive, capital investments will generally be eligible for a first-year deduction for depreciation equal to up to three times the amount that would otherwise apply in the year an asset is put in use. Tripling the current first-year rate will allow businesses to recover the initial cost of their investment more quickly. The Accelerated Investment Incentive will apply to qualifying assets acquired after November 20, 2018. It will be gradually phased out starting in 2024, and no longer in effect for investments put in use after 2027. Use [Alt-J] to enter different values for other jurisdictions.
Addition-Car-DIEPThe immediate expensing property (DIEP) addition of an automobile to Class 10.1 can only be entered once since separate classes are required for Class 10.1 property.Enter the cost of the car excluding GST, PST and HST. The amount of GST, PST or HST paid on the cost should be entered in the keyword GSTPSTCost ($ 30,000 before 2022, $ 34,000 in 2022, $ 36,000 after 2022). Immediate expensing is available for "eligible property" acquired by a CCPC on or after April 19, 2021 or by an individual or partnership after December 31, 2021, and that becomes available for use before January 1, 2024, up to a maximum amount of $1.5 million per taxation year. The immediate expensing would only be available for the year in which the property becomes available for use. The $1.5 million limit is shared among associated members of a group of CCPCs, individuals and partnerships. The limit is prorated for taxation years that are shorter than 365 days. The half-year rule is suspended for property for which this measure is used. Use [Alt-J] to enter different values for other jurisdictions.
Additions-YrFor Classes 13 and 14, DT Max will calculate capital cost allowance based on the number of 12 month periods remaining in the lease term (Class 13) or useful life of the asset (Class 14), including this taxation year, for the additions entered. Next year, the capital cost allowance calculated will be carried forward into the Annual-CCA.n keyword in this group.For Class 13, the minimum amortization period is 5 years and the maximum is 40 years. If the number of months entered for an addition in the Additions-Yr keyword is not within this range, DT Max will use the minimum or maximum allowed. Use [Alt-J] to enter different values for other jurisdictions.
Additions-Yr-AIIPFor Class 13, DT Max will calculate capital cost allowance based on the number of 12-month periods remaining in the lease term, including this taxation year, for the additions entered. Next year, the capital cost allowance calculated will be carried forward into the Annual-CCA.n keyword in this group.For Class 13, the minimum amortization period is 5 years and the maximum is 40 years. If the number of months entered for an addition is not within this range, DT Max will use the minimum or maximum allowed. Use [Alt-J] to enter different values for other jurisdictions.
AIIPFor Class 14, use the keyword AIIP to indicate if you wish to claim 1.5 times the normal first-year CCA claim for federal, Alberta and Quebec jurisdictions or whether you wish to claim 1.5 times the normal first-year CCA claim for federal and Alberta, but the full cost (100%) for Quebec.For Quebec purposes, enhancement of the harmonized accelerated investment incentive allows for the immediate full expensing of the cost of qualified intellectual property where the property is acquired after December 3, 2018 and becomes available for use before 2024. The following options are applicable for the keyword AIIP.
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See the CRA's general income tax guide: AdditionsYr-AIIPFor Class 14, DT Max will calculate capital cost allowance based on the number of 12-month periods remaining in the useful life of the asset, including this taxation year, for the additions entered. Next year, the capital cost allowance calculated will be carried forward into the Annual-CCA.n keyword in this group. Use [Alt-J] to enter different values for other jurisdictions.
Additions-Yr-DIEPFor Class 13, DT Max will calculate capital cost allowance based on the number of 12-month periods remaining in the lease term, including this taxation year, for the additions entered. Next year, the capital cost allowance calculated will be carried forward into the Annual-CCA.n keyword in this group.For Class 13, the minimum amortization period is 5 years and the maximum is 40 years. If the number of months entered for an addition is not within this range, DT Max will use the minimum or maximum allowed. Immediate expensing is available for "eligible property" acquired by a CCPC on or after April 19, 2021 or by an individual or partnership after December 31, 2021, and that becomes available for use before January 1, 2024, up to a maximum amount of $1.5 million per taxation year. The immediate expensing would only be available for the year in which the property becomes available for use. The $1.5 million limit is shared among associated members of a group of CCPCs, individuals and partnerships. The limit is prorated for taxation years that are shorter than 365 days. The half-year rule is suspended for property for which this measure is used. Use [Alt-J] to enter different values for other jurisdictions.
Add-Deduction-QCFor Quebec purposes, to encourage continued investment in manufacturing and processing equipment, clean energy generation equipment, general-purpose electronic data processing equipment and certain intellectual property, an additional capital cost allowance of 30% is introduced. This additional capital cost allowance will be permanent.The tax legislation will thereby be amended to allow a taxpayer who acquires contemplated property, after the day of publication of Information Bulletin 2018-9, to deduct in computing income from a business for a taxation year, an amount corresponding to 30% of the amount deducted in computing such income, for the previous taxation year, on account of the capital cost allowance for the contemplated property.
For the purposes of the additional capital cost allowance of 30%, contemplated property will be, on the one hand, a particular property that is:
- machinery or equipment used in manufacturing or processing, namely, property included in Class 53 The particular property must be new at the time of its acquisition by the taxpayer and not property acquired from a person or partnership with which the taxpayer does not deal at arm's length. Its use must begin within a reasonable time after being acquired and, except in the case of loss or involuntary destruction by fire, theft or water, or a major breakdown, be used primarily in Quebec in the course of carrying on a business for a period of at least 730 consecutive days after the property's use began (hereinafter, "730-days period") by the taxpayer or a person with whom the taxpayer does not deal at arm's length and in the circumstances in which a transfer, amalgamation or winding-up occurred. More specifically, if, at any time in the 730-days period, an event occurs that prevents one of the conditions allowing a particular property to be a contemplated property from being met, the particular property will not be a contemplated property. For the purposes of the additional capital cost allowance of 30%, contemplated property will be, on the other hand, a qualified intellectual property. A separate class will be provided for properties of a same class for which a taxpayer may claim the additional capital cost allowance of 30%. The following options are applicable for the keyword Add-Deduction-QC.
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See the CRA's general income tax guide: DateAcquired.cUse the keyword DateAcquired.c to enter the acquisition date of zero-emission passenger vehicle that would otherwise be included in Class 10 or Class 10.1.
Date-In-Use.cUse the keyword Date-In-Use.c to indicate the date the property became available for use. This date is used for AIIP additions after 2023 to determine the relevant factor for purposes of federal Schedule 8, AT1 schedule 13 and Quebec CO-130.A.This date is also used for DIEP additions for purposes of Quebec form CO-130.AD.
Addition-AIIP.cUse the keyword Addition-AIIP.c to enter an addition of a zero-emission passenger vehicle that would otherwise be included in Class 10 or Class 10.1. Enter the original cost of the car excluding GST, PST and HST. For example, if the car cost $70,000 plus $10,500 HST, $70,000 should be entered for the keyword Addition-AIIP.c. The amount of GST, PST or HST paid on the allowable cost (up to a maximum of $61,000 after 2022, $59,000 in 2022, $55,000 if in 2021 or before) should be entered in the keyword GSTPSTCost.c .Zero emission cars acquired after March 18, 2019 and before 2028 are eligible for an enhanced allowance in the first year the car becomes available for use.
Rates for the First-Year Enhanced Allowance
Addition-DIEP.cUse the keyword Addition-DIEP.c to enter an addition of a zero-emission passenger vehicle that would otherwise be included in Class 10 or Class 10.1. Enter the original cost of the car excluding GST, PST and HST. For example, if the car cost $70,000 plus $10,500 HST, $70,000 should be entered for the keyword Addition-DIEP.c. The amount of GST, PST or HST paid on the allowable cost (up to a maximum of $55,000 before 2022, $59,000 in 2022, $61,000 after 2022) should be entered in the keyword GSTPSTCost.c .Zero emission cars acquired after April 18, 2021 and before 2024 are eligible for immediate expensing. Immediate expensing is available for zero emission cars acquired by a CCPC on or after April 19, 2021 or by an individual or partnership after December 31, 2021, and that becomes available for use before January 1, 2024, up to a maximum amount of $1.5 million per taxation year. The immediate expensing would only be available for the year in which the property becomes available for use. The $1.5 million limit is shared among associated members of a group of CCPCs, individuals and partnerships. The limit is prorated for taxation years that are shorter than 365 days. The half-year rule is suspended for property for which this measure is used. Use [Alt-J] to enter different values for other jurisdictions.
GSTPSTCost.cUse the keyword GSTPSTCost.c to enter the GST, PST or HST on the cost of the car, up to the prescribed amount of $61,000 after 2022, $59,000 in 2022, $55,000 if in 2021 or before. Enter the lesser of the taxes paid on the purchase of the car and the taxes payable on the prescribed amount of $61,000 after 2022, $59,000 in 2022, $55,000 if in 2021 or before.Use the keyword GSTPSTRebate.c to enter the amount of the GST, PST or HST rebate claimed on the car up to the prescribed amount of $61,000 after 2022, $59,000 in 2022, $55,000 if in 2021 or before.
GSTPSTRebate.cThe GST, PST or HST rebate on this addition will be deducted from its cost on Schedule 8.
HalfYr-CCAUse HalfYr-CCA to override the application of the half-year rule to current year non-accelerated investment incentive property additions in classes where the half-year rule normally applies (all classes except Classes 14 and 15). See Fed Income Tax Regs 1100(2) to (2.4) for exceptions to the half-year rule.The following options are applicable for the keyword HalfYr-CCA.
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See the CRA's general income tax guide: Reg-1101-5QUse the keyword Reg-1101-5Q to indicate whether or not the corporation is electing under regulation 1101(5q) of the ITA.The following options are applicable for the keyword Reg-1101-5Q.
DateAcquiredThe date when the assets are available for use is required information on schedule 31.
Date-In-UseUse the keyword Date-In-Use to indicate the date the property became available for use. This date is used for AIIP additions after 2023 to determine the relevant factor for purposes of federal Schedule 8, AT1 schedule 13 and Quebec CO-130.A.This date is also used for DIEP additions for purposes of Quebec form CO-130.AD.
LocationThe location (province) where the asset is used is required information on schedule 31.The following options are applicable for the keyword Location.
PrevYrITCDT Max will deduct the PrevYrITC entered here from the undepreciated capital cost balance of the property's class.
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Assets-PredUse the keyword Assets-Pred to enter depreciable property that has been transferred from an amalgamated or wound-up subsidiary.Assets entered here will not be subject to the half-year rule. Use [Alt-J] to enter different values for other jurisdictions.
GSTPSTCostThe GST, PST or HST on the allowable cost (up to a maximum of $36,000 after 2022, $34,000 in 2022, $30,000 in 2021 or before) of the car is added to Class 10.1. Enter the lesser of the taxes paid on the purchase of the car and the taxes payable on a $36,000 car if acquired after 2022, $34,000 car if acquired in 2022, $30,000 if acquired in 2021 or before.Use the keyword GSTPSTRebate, GSTPSTReb-AIIP or GSTPSTReb-DIEP to enter the amount of the GST, PST or HST rebate claimed on the vehicle.
GSTPSTRebateThe GST, PST or HST rebate on this non-accelerated investment incentive property addition will be deducted from its cost on Schedule 8.
GSTPSTReb-AIIPThe GST, PST or HST rebate on this accelerated investment incentive property (AIIP) addition will be deducted from its cost on Schedule 8.
GSTPSTReb-DIEPThe GST, PST or HST rebate on this designated immediate expensing property (DIEP) addition will be deducted from its cost on Schedule 8.
CECA-HistUse CECA-Hist in the year of a disposition of pre-July/88 eligible capital property in this group. When the cumulative eligible capital account balance after 75% of proceeds are deducted is negative, previous year claims adjust the addition to net income required. This is done to reflect the old system of cumulative eligible capital deductions; 50% of cost used to be eligible capital property and 10% was the allowable deduction rate, as opposed to the current 75% eligible amount and 7% deduction rate.DT Max will calculate the amount added to net income. The addition will appear on schedule 1. You can use RecaptureOV to override the amount added to net income also. The following options are applicable for the keyword CECA-Hist.
AdjustmentThe adjustment entered here will be deducted from (if negative) or added to (if positive) the undepreciated capital cost of this class on schedule 8. Use [Alt-J] to enter different values for other jurisdictions.
Adjustment.cThe adjustment amount after Dec 31, 2016 entered here will be deducted from (if negative) or added to (if positive) the undepreciated capital cost of this class (class 14.1) on Schedule 8. Use [Alt-J] to enter different values for other jurisdictions.
Assistance.ccaInclude all amounts of assistance you received (or were entitled to receive) after the disposition of a depreciable property that would have decreased the capital cost of the property by virtue of paragraph 13(7.1)(f) if received before the disposition. Use [Alt-J] to enter different values for other jurisdictions.
Repayment.ccaInclude all amounts you have repaid during the year (after the disposition of a particular property with respect to a legally required repayment) of:- assistance that would have otherwise increased the capital cost of the property under paragraph 13(7.1)(d); and - any legally required repayment of an inducement, assistance or any other amount contemplated in paragraph 12(1)(x) received by the taxpayer that otherwise would have increased the capital cost of the property under paragraph 13(7.4)(b). Use [Alt-J] to enter different values for other jurisdictions.
Business-CeasedIf this is the corporation's final return up to dissolution, DT Max will calculate a terminal loss, if appropriate, on line 215 of federal Schedule 8.Otherwise, use the keyword Business-Ceased to indicate the business, associated with this CCA Class 14.1, has ceased operations. A terminal loss can only be claimed if the business has ceased operations. The following options are applicable for the keyword Business-Ceased.
Timber-RateFor Class 15, capital cost allowance is calculated based upon the amount of cords or board feet of timber cut in the taxation year. Calculate the rate which DT Max will apply to the additions entered for this class; enter the capital cost allowance for assets in the opening balance in the Annual-CCA keyword.
Annual-CCAEnter the amount of the annual capital cost allowance for assets in the opening balance of this class. For additions to this class, DT Max will calculate the Annual-CCA to carry forward next year. Use [Alt-J] to enter different values for other jurisdictions.
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See the CRA's general income tax guide: Annual-CCA.nEnter the amount of the annual capital cost allowance for assets in the opening balance of this class and the number of months remaining in the life of the asset(s) in Annual-CCA.n For additions to this class, DT Max will calculate the Annual-CCA.n to carry forward next year based upon the amount (and the number of months remaining in the life of the asset, if applicable) entered in the Additions-Yr and Additions-Yr-AIIP keywords for Class 13 and in the Additions-Yr and AdditionsYr-AIIP keywords for Class 14. Use [Alt-J] to enter different values for other jurisdictions.
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See the CRA's general income tax guide: CCALimitUse CCALimit to limit the capital cost allowance amount to be claimed on this class. DT Max will claim the lesser of the limit entered and the maximum allowable claim calculated on schedule 8. Use [Alt-J] to enter different values for other jurisdictions.
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See the CRA's general income tax guide: UCCFloorUse UCCFloor to limit the ending UCC balance to a specific amount so that recapture on future disposals can be minimized. Use [Alt-J] to enter different values for other jurisdictions.
FactorOVUse the keyword FactorOV to override the relevant factor determined by DT Max.This keyword will be needed when there is more than one AIIP addition for a given CCA-Class group which has different relevant factors. In order to determine the appropriate relevant factor, use the following formula for that CCA-Class group: (AIIP additions in 2023 X Relevant factor for 2023) + (AIIP additions in 2024 X Relevant factor for 2024) + (AIIP additions in 2025 X Relevant factor for 2025) + (AIIP additions in 2026 X Relevant factor for 2026) + (AIIP additions in 2027 X Relevant factor for 2027) Divided by The total of AIIP additions. Use [Alt-J] to enter different values for other jurisdictions.
HalfYr-RuleOVUse this keyword to override the 50% rule amount claimed on this class. This corresponds to 1/2 the amount, if any, by which the net cost of acquisitions exceeds the proceeds of disposition during the year. Use [Alt-J] to enter different values for other jurisdictions.
Rate-OVRate-OV override the CCA rate for class 14.1 - Quebec CO-130.A
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See the CRA's general income tax guide: DIEP-Proceed-OVUse the keyword DIEP-Proceed-OV to override the gross proceeds from disposition of the designated immediate expensing property claimed on this class. Use [Alt-J] to enter different values for other jurisdictions.
UCCDIEP-OVUse the keyword UCCDIEP-OV to override the UCC of the DIEP claimed on this class. Use [Alt-J] to enter different values for other jurisdictions.
ImmediateExpOVUse this keyword to override the immediate expensing claimed on this class. Use [Alt-J] to enter different values for other jurisdictions.
CCAClassOVUse this keyword to override the capital cost allowance claimed on this class. Use [Alt-J] to enter different values for other jurisdictions.
RecaptureOVUse this keyword to override the recapture of depreciation calculated. Recapture is calculated for all CCA classes including Class 10.1 which is included in DIEP (designated immediate expensing property.) Class 10.1 not included in DIEP is not subject to recapture.For Class 10.1 (not included in DIEP), in the year of a disposal, no recapture or terminal loss is calculated. Instead, half-year CCA is claimed on the opening balance of the class, as is allowed by the income tax rules. Use [Alt-J] to enter different values for other jurisdictions.
TermLossOVUse this keyword to override the terminal loss calculated. Terminal loss is calculated for all CCA classes, except for Class 10.1.For Class 10.1, in the year of a disposal, no recapture or terminal loss is calculated. Instead, half-year CCA is claimed on the opening balance of the class, as is allowed by the income tax rules. Use [Alt-J] to enter different values for other jurisdictions.
ITCLimitUse ITCLimit to limit the investment tax credit to be claimed on schedule 31. DT Max will claim the lesser of the limit entered and the maximum allowable credit, calculated on schedule 31.Use [Alt-J] to enter different values for other jurisdictions.
PartVIITransUse PartVIITrans if the corporation owes part VII tax. This tax arose from common shares issued between July 1, 1982 and December 31, 1986 which allowed investors to claim a tax credit on the shares' cost.
ITC-CB-CCAUse ITC-CB here to limit the amount of the investment tax credit (ITC) for additions to this class to a prior taxation year carried back.Use the ITC-CB group to enter the total ITC earned this year to be carried back. DT Max will then allocate the ITC carried back to the classes in which ITC-eligible additions were made. The ITC carried back will be claimed on the lower CCA rate classes first, unless limits are entered in the ITC-CB keyword here. This reduces the impact of the required reduction to the undepreciated capital cost in the amount of the ITC claimed; greater CCA claims will then be available to the higher CCA rate classes. The following options are applicable for the keyword ITC-CB-CCA.
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See the CRA's general income tax guide: CarbonRebateUse the keyword CarbonRebate to indicate if the asset is eligible for the Yukon government carbon price rebate for businesses.The following options are applicable for the keyword CarbonRebate.
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See the CRA's general income tax guide: Mining-CarbonRebUse the keyword Mining-CarbonReb to indicate if the asset is eligible for the Yukon mining business carbon price rebate for mining businesses.The following options are applicable for the keyword Mining-CarbonReb.
Quartz-MiningUse the keyword Quartz-Mining to indicate if the specified placer mining business carries a specified quartz mining business.The following options are applicable for the keyword Quartz-Mining.
Cross-BorderUse the keyword Cross-Border to indicate if the equipment is used in cross-border transport.The following options are applicable for the keyword Cross-Border.
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See the CRA's general income tax guide: Km-OR-Fuel-UsedUse the keyword Km-OR-Fuel-Used to enter the mileage or fuel used by cross-border equipment while in Yukon.
Total-Km-OR-FuelUse the keyword Total-Km-OR-Fuel to enter the total mileage or fuel used by cross-border equipment.
ProvITCExpUse ProvITCExp to override the amount for expenditures eligible for provincial investment tax credits.The following options are applicable for the keyword ProvITCExp.
ProvCr-AllocUse the keyword ProvCr-Alloc to enter tax credits which have been allocated to the corporation.The amount entered will appear on the provincial tax credit form for purposes of the calculation of the current year tax credit earned. Use the keyword ProvITCExp to indicate which provincial tax credit form the tax credit allocation will apply to. The following options are applicable for the keyword ProvCr-Alloc.
CCALimit.totWhen CCALimit.tot is used, DT Max will optimize CCA allocated amongst classes by first taking CCA on lower rate classes unless the CCALimit keyword was entered in a particular class.Use CCALimit to limit the capital cost allowance or cumulative eligible cost amount claimed on a particular class. DT Max will claim the lesser of any limits entered and the maximum allowable claim calculated on schedule 8. Use [Alt-J] to enter different values for other jurisdictions.
CCA-AgreementUse the keyword CCA-Agreement and select "Yes" if the corporation is associated in the tax year with one or more EPOPs with which the corporation has entered into an agreement under subsection 1104(3.3) of the Regulations. By selecting "Yes", you will be able to enter information regarding the immediate expensing limit agreement of $1,500,000. Immediate expensing is available in the year in which eligible property becomes available for use. The $1.5 million immediate expensing limit per taxation year must be shared among members of an associated group of eligible persons or partnerships and prorated for short taxation years. No carryforward will be available if the full $1.5 million immediate limit is not used in a particular taxation year.The following options are applicable for the keyword CCA-Agreement.
Name-EPOPUse the keyword Name-EPOP to enter the name of the eligible person or partnership (EPOP).An eligible person or partnership means - a corporation that was a Canadian-controlled private corporation throughout the year; - an individual (other than a trust) who is resident in Canada throughout the year; or - a Canadian partnership where all the members are CCPC's, Canadian-resident individuals (other than trust), or a combination thereof. To qualify as an EPOP, the person or partnership must satisfy the qualifications and maintain their status throughout the year. Multi-tiered partnerships are excluded.
Bus-Num-Fed.epopWhere the eligible person or partnership (EPOP) is a Canadian-controlled private corporation (CCPC), enter the federal business number of the CCPC here.
PIN-ID.epopWhere the eligible person or partnership (EPOP) is a Canadian partnership, enter the federal partnership account number here.
Ident-Num.epopWhere the eligible person or partnership (EPOP) is a Canadian-controlled private corporation (CCPC), enter the Quebec identification number of the CCPC here.
QC-PIN-ID.epopWhere the eligible person or partnership (EPOP) is a Canadian partnership, enter the Québec partnership identification number here.
SIN.epopWhere the eligible person or partnership (EPOP) is a Canadian-resident individual, enter the social insurance number here.
Assigned%Use the keyword Assigned% to enter the percentage of the immediate expensing limit assigned to each associated eligible person or partnership (EPOP). This percentage will be used to allocate the immediate expensing limit. The total of all percentage assigned under the agreement should not exceed 100%. If it does exceed 100%, then the associated group has an immediate expensing limit of nil. Use [Alt-J] to enter different values for other jurisdictions.
YearEnd.epopUse the keyword YearEnd.epop to enter the taxation year or fiscal year end date. This information is needed for purposes of Quebec form TP-130.EN.
Street.epopUse the keyword Street.epop to enter the street of the eligible person or partnership (EPOP). This information is needed for purposes of Quebec form TP-130.EN.
City.epopUse the keyword City.epop to enter the city of the eligible person or partnership (EPOP). This information is needed for purposes of Quebec form TP-130.EN.
Province.epopUse the keyword Province.epop to enter the province of the eligible person or partnership (EPOP). This information is needed for purposes of Quebec form TP-130.EN.The following options are applicable for the keyword Province.epop.
PostCode.epopUse the keyword PostCode.epop to enter the postal code of the eligible person or partnership (EPOP). This information is needed for purposes of Quebec form TP-130.EN.
Sign-Date.epopUse the keyword Sign-Date.epop to enter the signing date as well as the title of the signing officer for the eligible person or partnership (EPOP).The following options are applicable for the keyword Sign-Date.epop.
Immed-Exp-LimOVUse the keyword Immed-Exp-LimOV to override the amount of this corporation's immediate expensing limit for CCA purposes.DT Max will otherwise calculate the limit based on information entered in Assigned% keyword for all EPOPs within the CCA-Agreement group.
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