Capital cost allowance (CCA) rates are based on the declining balance for tax calculation.

Name: Capital cost allowance (CCA) rates are based on the declining balance for tax calculation.
Brand: Quizplus
Rating: 4.8 (34 reviews)

Question

Quizplus · Accepted Answer

CCA rates are based on the declining balance method, where the rate is applied to the undepreciated capital cost of the asset each year, resulting in a higher deduction in the earlier years and gradually decreasing over time, in line with the asset's diminishing value.

Capital Cost Allowance (CCA) Rates Are Based on the Declining