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| November 2018 | |||||
| 2018 fall economic update | |||||
| John Oakey, CPA-CA, TEP, CC, is Collins Barrow’s National Director of Tax Services | |||||
| The single tax measure introduced in the 2018 fall economic update was accelerated capital cost allowance for eligible property. What is capital cost allowance? Depreciable property is not allowed to be deducted as a current expense. Instead, the capital cost of the depreciable property is added to a capital cost allowance class and deducted over several years based on the CCA rate of that class. This annual deduction is called capital cost allowance (CCA for short) and is analogous to depreciation. | |||||
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