You might acquire a depreciable property, such as a building, furniture, a motor vehicle, or equipment, to use in your business or professional activities. You cannot deduct the cost of the property when you calculate your net business or professional income for the year. However, since these properties wear out or become obsolete over time, you can deduct their cost over a period of several years. This deduction is called capital cost allowance (CCA).

To determine the CCA, go to Area A – Calculation of capital cost allowance (CCA) claim.

Forms and publications

• Guide T4002, Self-employed Business, Professional, Commission, Farming, and Fishing Income
• Form T2125, Statement of Business or Professional Activities

Related link

• Claiming capital cost allowance (CCA)