CRA confirms that Folio S4-F15-C1 applies for purposes of the new accelerated CCA rules

Properties acquired for use in manufacturing or processing activities that are included in Class 29, 43 or 53 generally generate a 100% CCA deduction in the first year. CRA confirmed that its statements in Folio S4-F15-C1 as to the meaning of M&P also apply in this context so that, for example, in the oil and gas context, M&P includes the processing in Canada of natural gas at a straddle plant or at a plant devoted primarily to the recovery of ethane.

Neal Armstrong. Summary of 6 June 2019 CPTS Roundtable, 2019-0816111C6, Q.2 under Class 29.