If you acquire or make improvements to depreciable property in the year, we consider them to be additions to the class in which the property belongs. You should:

• fill in area B, Equipment additions in the year, and area C, Building additions in the year, of form T2125, Statement of Business or Professional Activities; and
• for each class, enter in column 3 of area A, Calculation of capital cost allowance (CCA) claim, the amounts from column 5 - UCC after additions and dispositions for each class in areas B and C.

If a chart asks for the personal part of a property, this refers to the part that you use personally, separate from the part you use for business. For example, if you use 25% of the building you live in for business, your personal part is the other 75%.

Do not include the value of your labour in the cost of a property you build or improve, include the cost of surveying or valuing a property you acquire. Remember that a property usually has to be available for use before you can claim capital cost allowance (CCA).

If you received insurance proceeds to reimburse you for the loss or destruction of depreciable property, enter the amount you spent to replace the property in column 3 of area A as well as in area B or area C, whichever applies. Include the amount of insurance proceeds considered as proceeds of disposition in column 4 - proceeds of dispositions in the year of area A, and in area D, Equipment dispositions in the year or area E, Building dispositions in the year, whichever applies.

If you replaced a lost or destroyed property, special rules for replacement property may apply to you. The replacement property must be acquired within two years of the end of the taxation year in which it was lost or destroyed.

Forms and publications

• Guide T4002, Self-employed Business, Professional, Commission, Farming, and Fishing Income
• Form T2125, Statement of Business or Professional Activities
• Income Tax Folio S3-F3-C1, Replacement Property
  

Related link

• Available for use rules