The maximum capital cost allowance CCA) that may be deducted for new assets is:
A)the same as the amortization calculated for the year.
B)restricted by the residual value.
C)restricted to 50% of the normal amount.
D)is the annual amount prorated based on when during the year the asset was purchased.

Question

Quizplus · Accepted Answer

The maximum CCA that may be deducted for new assets is restricted to 50% of the normal amount.

The Maximum Capital Cost Allowance CCA) That May Be Deducted