Capital Cost Allowance is the bane of many a Canadian small business owner's tax-paying existence.
On the one hand, it is a small business income tax deduction, so it's automatically a good thing.
On the other hand, because Capital Cost Allowance means that the cost of depreciable property acquired by your business has to be written off gradually over time rather than all at once in the tax year your business acquired the property, it complicates doing income tax for your small business considerably.
But don't be intimidated. My article on How to Calculate Capital Cost Allowance will make it easier for you to figure it out and get your income tax return done.More on Capital Cost Allowance
- Capital Cost Allowance definition
- Capital Cost Allowance as part of your first business income tax return
- Tips for maximizing your Capital Cost Allowance Claim
- Maximize Your Business Income Tax Deductions
- More Ways to Maximize Your Business Income Tax Deductions
- The Business Expenses as Tax Deductions Index
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