Capital Cost Allowance, 4th Edition

Capital Cost Allowance, 4th Edition is a complete reference guide of extensive commentary and all relevant primary and secondary resources on the capital cost allowance rules. This book helps professionals navigate all of the depreciable property rules applicable to corporations, individuals, trusts, and partnerships.

This edition includes:

• Commentary on all aspects of the capital cost allowance system, including transfers, restrictions, trusts, goodwill, and other intangibles, as well as many other CCA rules
• Full text of provisions of the Income Tax Act and Income Tax Regulations that relate to capital cost allowance, including proposed amendments to the legislation as of August 20, 2019
• Technical breakdown of all assets included in each Class that is prescribed under the Income Tax Regulations
• Detailed examples that illustrate the application of complex rules
• A comprehensive table of CCA rates and classes, listed alphabetically by asset type
• Detailed commentary on the latest tax change, including the new accelerated investment incentive from the 2018 Fall Economic Statement, and zero-emissions vehicles from Budget 2019

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Features & Coverage:

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The 2022 edition for 2021 returns contains a special section on tax measures due to the COVID-19 pandemic, as well as updated content reflecting the 2021 Federal Budget and Bills C-14, C-30, and C-31.

What's New in the 2022 Edition:

• Updated chapter content for COVID-19 response Bills C-14 and C-30, containing:
  • Childcare expenses and disability supports deduction adjustments
  • Temporary adjustments to the automobile standby charge due to COVID-19
  • Tax treatment of COVID-19 benefit amounts
  • Changes to the Canada Emergency Wage Subsidy and Canada Emergency Rent Subsidy programs
  • Establishing the Canada Hiring Recovery Program
• Other Bill C-30 measures from Budget 2019, 2020, 2021 and other proposals, such as:
  • Canada Workers Benefit
  • Registration and Revocation Rules Applicable to Charities
  • Registered Disability Savings Plan—Cessation of Eligibility for the Disability Tax Credit
  • Employee stock options
  • Agricultural Cooperatives: Patronage Dividends Paid in Shares
  • Accelerated Investment Incentive for Resource Expenditures
  • Accelerated Investment Incentive for Depreciable Property
  • Change in Use Rules for Multi-Unit Residential Properties
  • Permitting Additional Types of Annuities under Registered Plans
  • Contributions to a Specified Multi-Employer Plan for Older Members
  • Pensionable Service Under an Individual Pension Plan
  • Mutual Funds: Allocation to Redeemers Methodology
  • Electronic Delivery of Requirements for Information
  • Accelerated Capital Cost Allowance for Zero-Emission Vehicles
  • Character Conversion Transactions
  • Transfer Pricing Measures
  • Foreign Affiliate Dumping
  • Cross-Border Share Lending Arrangements
  • Time Extensions for Flow-Through Share Issuers
  • Zero-Emission Vehicles (Class 56)
  • Employee Life and Health Trusts
  • Support for Canadian Journalism
  • Basic Personal Amounts
  • Shared-Custody Parent
• Proposed amendments from the 2021 Federal Budget:
  • Disability Tax Credit
  • Northern Residents Deduction
  • Inclusion of postdoctoral fellowship income to “earned income” for the purposes of RRSPs
  • Fixing Contribution Errors in Defined Contribution Pension Plans
  • Tax treatment of COVID-19 benefit amounts
  • Electronic Filing and Certification of Tax and Information Returns
  • Immediate Expensing of certain investments in eligible property
  • Capital Cost Allowance for Clean Energy Equipment
  • Mandatory Disclosure Rules
  • Hybrid Mismatch Arrangements
  • Proposed amendments for COVID-19 furloughed employees
    
    
    Table of Contents
• How To Use This Book
• Recent Federal Income Tax Changes
• 2021 Provincial Tax Change Summary
• 2021 Federal and Provincial Tax Rates
• Indexed Personal Amounts, Credits, and Thresholds
• Prescribed Quarterly Interest Rates
• Registered plans, CPP, QPP, EI, and QPIP contributions
• Automobile Rates and Limits
• Mileage Rates
• 2021 Monthly Average Conversion Rates for U.S. Dollar, U.K. Pound, and European Euro Transactions
• Yearly Average Conversion Rates for Major Currencies
• Rates of Withholding Tax under Income Tax Agreements Signed by Canada
• Client Organizer
• Tax Changes Due to COVID-19
   

Chapters

• The Basic Rules of Residency and Canadian Income Taxation
• Income Tax Returns and Administrative Matters
• Employment Income and Deductions
• Investment Income
• Capital Gains and Losses
• Rental Income and Undeveloped Land
• Business and Professional Income
• Capital Cost Allowance
• Other Income
• Other Deductions
• Personal Tax Credit Amounts
• Medical Expenses and Charitable Donations
• Other Personal Tax Credits
• How To Calculate Your Federal Tax
• How To Calculate Your Provincial Tax
• Québec Income Tax
• Farming and Fishing
• Partnerships
• Final Returns of Deceased Taxpayers
• Non-Residents
  Immigrants and Emigrants, U.S. Citizens in Canada
• Oil and Gas and Mining Operations
• Divorce and Separation
• Alternative Minimum Tax
• Tax Planning
• Tax Deferred Plans and Special Income Arrangements
• Topical Index