,canada ,rev5ue ,ag5cy ,t#djjd--,fi%+ ,9come ,9cludes ,=m ,t#baba #bjjf ,9 ,"o ,volume ,pr9t ,pages #c-dc ,brl ,pages ;i-;xii & #a-bga ,9dex ,brl page ,2f y />t """"""""""""""""""""""""""" #a ,is ? guide = y8 """""""""""""""""" #a ,:at is fi%+ 9come8 """"""""""""""" #c ,=ms & public,ns """""""""""""""""" #c ,p5alties """"""""""""""""""""""""" #d ,d y ne$ m 9=m,n8 """"""""""""""""" #e ,teletypewrit] us]s """"""""""""""" #e ,electronic mail+ li/s """""""""""" #f ,:at's new = #bjjf8 """"""""""""""""" #g ,ta# ( 3t5ts """"""""""""""""""""""" #aa ,*apt] #a--,g5]al 9=m,n """""""""""" #ae ,busi;s & busi;s 9come """"""""""" #ae ,h[ d y calculate yr fi%+ 9come8 #ag ,fiscal p]iod """""""""""""""""" #ag ,ca% me?od """"""""""""""""""""" #ai ,a3rual me?od """""""""""""""""" #bj ,*ang+ yr me?od ( report+ 9come """""""""""""""""""""""" #bc ,busi;s records """""""""""""""""" #bc ,9come records """"""""""""""""" #be ,exp5se records """""""""""""""" #be ;i ,9dex ,yr record books """"""""""""""" #bg ,"t limits = keep+ records """"" #db ,9/al;t pay;ts """"""""""""""""""" #dc ,dates 6rememb] """""""""""""""""" #dd ,:at is a "pn]%ip8 """"""""""""""" #de ,report+ "pn]%ip 9come """"""""" #df ,gds & s]vices tax/h>moniz$ sales tax 7,,gst/,,hst7 rebate """"""""""""""""""""""" #dg ,"pn]%ip losses """""""""""""""" #dh ,"pn]%ips t h 6file a "pn]%ip 9=m,n return """"""""""""""""" #di ,"pn]%ips t d n h 6file a "pn]%ip 9=m,n return """"""""" #ea ,capital co/ all[.e 7,,cca7 """" #eb ,eligi# capital exp5ditures """" #ec ,limit$ "pn]%ip """""""""""""""" #ed ,9ve/;t tax cr$it 7,,itc7 """""""" #ed ,*apt] #b--,=m ,t#baba1 ,/ate;t ( ,fi%+ ,activities """""""""""""""" #eg ,sole proprietor%ips """"""""""""" #eg ,"pn]%ips """""""""""""""""""""""" #eg ,id5tific,n >ea """""""""""""""""" #ei ;ii ,9dex ,fi%+ 9come """""""""""""""""""""" #fb ,t#d slip1 ,/ate;t ( ,remun],n ,pd """""""""""""""""""""""""" #fb ,sale ( fi% """""""""""""""""""" #fc ,o!r m>9e products """"""""""""" #fd ,grants1 cr$its1 & rebates """"" #fd ,subsidies """"""""""""""""""""" #ff ,-p5s,n = loss ( fi%+ 9come or prop]ty """""""""""""""""""""" #fg ,o!r 9come """"""""""""""""""""" #fg ,patronage divid5ds """""""""" #fh ,pay+ debts ) "p (a cat* """"" #fh ,sale ( prop]ty """""""""""""" #fi ,9come f relat$ activities """ #gb ,%>esp]son 9come """"""""""""" #gc ,l9e #hbii--,gross 9come """"""" #gc ,fi%+ exp5ses """""""""""""""""""" #gc ,:o c claim exp5ses8 """"""""""" #gc ,fi%+ boat [n]s """""""""""""" #ge ,capta9s ( fi%+ boats """""""" #gf ,%>espeople """""""""""""""""" #gg ,use (a fi%+ boat ma9ly = p]sonal use """""""""""""""" #gg ;iii ,9dex ,prepd exp5ses """"""""""""""""" #gh ,grants1 cr$its1 & rebates """"" #gi ,l9e #iach--,bait1 ice1 salt """ #hj ,l9e #ijfb--,crew %>es """"""""" #hj ,l9e #ibbd--,fuel & oil co/s """ #hj ,l9e #iacf--,ge> """"""""""""""" #ha ,l9e #hfij--,9sur.e """""""""""" #ha ,l9e #hgaj--,9t]e/ """"""""""""" #hb ,l9e #hebc--,food """""""""""""" #hc ,l9e #hgfj--,lic;es """""""""""" #hd ,l9e #ibha--,motor vehicle exp5ses """""""""""""""""""""" #he ,busi;s use (a motor vehicle #hg ,9t]e/ on ! m"oy y borr[ =a pass5g] vehicle """""""""""" #hi ,l1s+ co/s =a pass5g] vehicle """""""""""""""""""" #ia ,repay;ts & imput$ 9t]e/ """"" #if ,jo9t [n]%ip (a pass5g] vehicle """""""""""""""""""" #ig ,m ?an "o vehicle """""""""""" #ih ,l9e #hhaj--,(fice exp5ses """"" #ih ,l9e #iacg--,nets & traps """""" #ih ;iv ,9dex ,me?od #a--,capital co/ all[.e 7,,cca7 me?od """"""" #ii ,me?od #b--,9v5tory me?od """" #ii ,l9e #hhfj--,legal1 a3.t+1 & o!r profes.nal fees """"""""" #aja ,l9e #ijfj--,sal>ies1 wages1 & b5efits """"""""""""""""""""" #ajb ,l9e #hifc--,repairs """""""""" #aje ,fi%+ boat """""""""""""""""" #aje ,5g9e """"""""""""""""""""""" #aje ,electrical equip;t """"""""" #ajf ,l9e #ibgj--,o!r exp5ses """""" #ajf ,4abil;y-relat$ modific,ns made 6a build+ """""""""""" #ajf ,l1s+ co/s """""""""""""""""" #ajg ,adv]tis+ """"""""""""""""""" #ajh ,teleph"o """"""""""""""""""" #aji ,-put] & o!r equip;t l1s+ co/s """""""""""""""""""""" #aji ,freie ( net "pn]%ip 9come 7loss7 """""""" #abg ,l9e #iide--,busi;s-use-(-home exp5ses """"""""""""""""""""" #abh ,l9e #iidf--,yr net 9come 7loss7 """""""""""""""""""""" #acb ;vi ,9dex ,details ( equ;y 7..page #b ( ,=m .,t#baba7 """"""""""""""""" #acb ,l9e #iica--,total busi;s liabilities """"""""""""""""" #acc ,l9e #iicb--,draw+s 9 #bjjf """ #acc ,l9e #iicc--,capital 3tribu;ns 9 #bjjf """"""""""""""""""""" #acd ,details ( o!r "pn]s 7..page #c ( ,=m .,t#baba7 """"""""""""""" #acd ,*apt] #c--,capital co/ all[.e 7,,cca7 """"""""""""""""""""""""" #acg ,:at is ,,cca8 """""""""""""""""" #acg ,def9i;ns """"""""""""""""""""""" #acg ,adju/$ co/ base 7,,acb7 """" #acg ,availa# = use """""""""""""" #ach ,capital co/ """""""""""""""" #adj ,deprecia# prop]ty """""""""" #ada ,fair m>ket value 7,,fmv7 """ #ada ,non->m's l5g? transac;n """" #ada ,proce$s ( 4posi;n """""""""" #adb ,undepreciat$ capital co/ 7,,ucc7 """"""""""""""""""" #adc ,h[ m* ,,cca c y claim8 """"""""" #adc ;vii ,9dex ,"! >e a few o!r ?+s y %d "k ab ,,cca3 """"""""""""""""""" #add ,h[ d y make yr claim8 """""""""" #adg ,column #a--,class numb] """""" #adh ,column #b--,undepreciat$ capital co/ 7,,ucc7 at ! />t (! ye> """""""""""""""""""""" #adi ,column #c--,co/ ( a4i;ns 9 ! ye> """"""""""""""""""""""""" #aej ,>ea ;,b--,details ( equip;t a4i;ns 9 ! ye> """""""""""" #aeb ,>ea ;,c--,details ( build+ a4i;ns 9 ! ye> """""""""""" #aeb ,l& """"""""""""""""""""""""" #aec ,>ea ;,f--,details ( l& a4i;ns & 4posi;ns 9 ! ye> #aed ,column #d--,proce$s ( 4posi;ns 9 ! ye> """""""""""" #aee ,>ea ;,d--,details ( equip;t 4posi;ns 9 ! ye> """""""""" #aeg ,>ea ;,e--,details ( build+ 4posi;ns 9 ! ye> """""""""" #aeg ;viii ,9dex ,>ea ;,f--,details ( l& a4i;ns & 4posi;ns 9 ! ye> #aeh ,column #e--,,ucc af a4i;ns & 4posi;ns """""""""""""""""""" #aeh ,recapture ( ,,cca """""""""" #aeh ,t]m9al loss """""""""""""""" #aei ,column #f--,adju/;t = curr5t- ye> a4i;ns """""""""""""""""" #afj ,column #g--,base am.t = ,,cca #afc ,column #h--,rate 7@3p7 """"""" #afc ,column #i--,,cca =! ye> """""" #afd ,column #aj--,,ucc at ! 5d (! ye> """"""""""""""""""""""""" #afe ,classes ( deprecia# prop]ty """" #afe ,o!r prop]ty--,class #h 7#bj@3p7 """""""""""""""""""" #afe ,electronic (fice equip;t & data net"w 9fra/ructure equip;t--,class #h 7#bj@3p71 ,class #aj 7#cj@3p71 ,class #de 7#de@3p71 & ,class #df 7#cj@3p7 """""""""""""""""""" #aff ,class #h 7#bj@3p7 """""""""" #aff ;ix ,9dex ,class #ab 7#ajj@3p7 """""""" #afg ,class #de 7#de@3p7 """"""""" #afh ,class #df 7#cj@3p7 """"""""" #afh ,pass5g] vehicles--,class #aj & ,class #aj.a 7#cj@3p7 """"" #afh ,special rates = c]ta9 boats "" #agb ,small tools--,class #ab 7#ajj@3p7 """"""""""""""""""" #agc ,l1sehold 9t]e/--,class #ac """ #agd ,special situ,ns """""""""""""""" #age ,p]sonal use ( prop]ty """""""" #age ,*ang+ f p]sonal 6busi;s use "" #agg ,grants1 subsidies1 & rebates #agi ,non->m's l5g? transac;ns """"" #aha ,special rules = 4pos+ (a build+ 9 ! ye> """""""""""""" #ahf ,replace;t prop]ty """""""""""" #aic ,*apt] #d--,eligi# capital exp5ditures """"""""""""""""""""" #aie ,:at is an eligi# capital exp5diture8 """"""""""""""""""" #aie ,:at is an annual all[.e8 """"""" #aie ;x ,9dex ,:at is a cumulative eligi# capital 7,,cec7 a3.t8 """"""""" #aif ,h[ 6calculate yr annual all[.e #aif ,,cec a3.t """""""""""""""""""" #aif ,sale ( eligi# capital prop]ty 9 ! #bjjf fiscal p]iod """""""""" #bjj ,exempt capital ga9s bal.e 7,,ecgb7 """""""""""""""""""""" #bjd ,elec;n """"""""""""""""""""""""" #bje ,replace;t prop]ty """""""""""""" #bjf ,eligi# capital prop]ty (a dec1s$ taxpay] """""""""""""""" #bjg ,*apt] #e--,fi%+ losses """"""""""" #bji ,fi%+ & non-capital losses """""" #baj ,fi%+ losses """""""""""""""""" #baj ,non-capital losses """"""""""" #baa ,*apt] #f--,capital ,ga9s """"""""" #bac ,:at is a capital ga98 """""""""" #bad ,:at is a capital loss8 """"""""" #bae ,def9i;ns """"""""""""""""""""""" #baf ,h[ 6calculate yr capital ga9 or loss """""""""""""""""""""""""" #bag ;xi ,9dex ,qualifi$ fi%+ prop]ty & cumulative capital ga9s deduc;n """"""""""""""""""""""" #bah ,:at is qualifi$ fi%+ prop]ty8 #bai ,r1l prop]ty or eligi# capital prop]ty """"""""""""""""""""" #bba ,transf] ( fi%+ prop]ty 6a * """" #bbc ,transf] ( fi%+ prop]ty 6a * if a p>5t dies 9 ! ye> """""" #bbg ,transf] ( fi%+ prop]ty 6a sp\se or -mon-law "pn] """""""""""""" #bbi ,o!r special rules """""""""""""" #bcj ,res]ves """""""""""""""""""""" #bcj ,ex*anges or expropri,ns ( prop]ty """"""""""""""""""""" #bca ,capital co/ all[.e 7,,cca7 rates #bcc ,,gst/,,hst """"""""""""""""""""""" #bcg ,9dex """"""""""""""""""""""""""""" #bdc ,yr op9ion c.ts6 """""""""""""""""" #bea ,t#baba--,/ate;t ( ,fi%+ ,activities """"""""""""""""""""" #bec ;xii ,transcrib]'s note3 7,front cov]7 ,canada ,rev5ue ,ag5cy ,fi%+ ,9come ,9cludes ,=m ,t#baba #bjjf ,t#djjd7,e7 ,rev4 #jf _+www.cra.gc.ca_: ,transcrib]'s note3 7,9side front cov]7 ,2f y />t ,is ? guide = y8 ,use ? guide if y e>n$ 9come z a self- employ$ fi%] or z a "pn] (a fi%+ "pn]%ip4 ,x w help y calculate ! fi%+ 9come 6report on yr #bjjf 9come tax & b5efit return4 ,y c 2 a self-employ$ fi%] & al a "pn] ( "o or m fi%+ "pn]%ips4 ,= 9/.e1 y #a ,2f y />t may h fi%$ = gr.dfi% 0yrf & al h be5 9 a lob/]-fi%+ "pn]%ip ) yr *4 ,g5],y1 we 3sid] y 6be a self-employ$ fi%] if all (! foll[+ applies 6y3 --y "picipate 9 mak+ a cat*2 --y >e n fi%+ = yr [n or ano!r p]son's sport2 & --y meet at l1/ ."o (! foll[+ 3di;ns3 --y [n or l1se ! boat t is us$ 6make ! cat*2 --y [n or l1se specializ$ fi%+ ge> 7n 9clud+ h& tools or clo?+7 us$ 6make ! cat*2 --y hold a species lic;e issu$ 0,fi%]ies & ,oc1ns ,canada1 : is nec 6make ! cat*2 or --y h a "r ( [n]%ip 6all or "p (! proce$s f ! sale (! cat*1 & y >e responsi# = all or "p (! exp5ses 9curr$ 9 mak+ ! cat*4 ,? m1ns y h 6pay a predet]m9$ am.t or p]c5tage (! exp5ses1 s* z fuel1 9curr$ 0! crew 9 mak+ ! cat*1 reg>d.s (! value (! cat*4 #b ,:at is fi%+ 9come8 ,fi%+ 9come 9cludes 9come y e>n$1 :e!r x 0 paya# 9 ca%1 prop]ty or s]vices f fi%+ = or cat*+3 --%ellfi%2 --cru/ac1ns2 & --m>9e animals4 ,fi%+ 9come does .n 9clude 9come y e>n$ f "w+ z an employee 9 a fi%+ busi;s4 ,if y >e n sure :e!r y >e a self- employ$ fi%] or an employee1 see ,guide ,t#djje1 ,fi%]s & ,employ;t ,9sur.e4 ,= basic gds & s]vices tax/h>moniz$ sales tax 7,,gst/,,hst7 9=m,n1 see page #da4 ,=ms & public,ns ,9 ! mi4le ( ? guide1 y w f9d two copies ( ,=m ,t#baba1 ,/ate;t ( ,fi%+ ,activities4 ,? =m c help y calculate yr 9come & exp5ses = 9come tax purposes4 ,al? we 5c\rage y 6use ? =m1 y d n #c ,2f y />t h 6use x4 ,we w a3ept o!r types ( f9ancial /ate;ts4 ,y h 6-plete a sep>ate =m = ea* busi;s y op]ate4 ,9t]pret,n ,bullet9 ,,it-#bjf1 ,sep>ate ,busi;ses1 has m details4 ,"?\t ! guide1 we al ref] 6o!r =ms & public,ns4 ,if y ne$ any ( ^!1 visit \r ,web site at _+www.cra.gc.ca/forms_:4 ,y may want 6bookm>k ? a4ress = easi] a3ess 6\r site 9 ! future4 ,y c al ord] =ms & public,ns 0call+ u at #a-hjj-iei-bbba4 ,p5alties ,9clude all yr 9come :5 y calculate x = tax purposes4 ,if y fail 6report all yr 9come1 y may 2 subject 6a p5alty ( #aj@3p (! am.t y fail$ 6report af yr f/ omis.n4 ,a di6]5t p5alty may apply if y "k+ly or "u circum/.es am.t+ 6gross neglig;e "picipate 9 ! mak+ (a false /ate;t or omis.n 9 yr return4 ,9 s* a case1 ! p5alty is #ej@3p (! tax attributa# #d ,2f y />t 6! omis.n or false /ate;t 7m9imum 4#ajj74 ,d y ne$ m 9=m,n8 ,? guide uses pla9 language 6expla9 ! mo/ -mon tax situ,ns4 ,if1 af r1d+ ? guide1 y ne$ m 9=m,n ab fi%+ busi;ses1 visit \r ,web site at _+www.cra.gc.ca/fishers_: or call \r ,busi;s ,5quiries l9e at #a-hjj-iei-eebe4 ,teletypewrit] us]s ,if y use a teletypewrit] 7,,tty71 y c call \r toll free1 bil+ual 5quiry s]vice at #a-hjj-ffe-jced4 #e ,electronic mail+ li/s ,we (f] electronic mail+ li/s = v>i\s tax-relat$ subjects4 ,6subscribe1 free ( *>ge1 visit \r ,web site at _+www.cra.gc.ca/lists_:4 #f ,:at's new = #bjjf8 ,transcrib]'s note3 7,! >1s \tl9$ 9 r$ >e 9dicat$ by 8,/>t \tl9e0 & 8,5d \tl9e0 at ! left m>g947 ,/>t \tl9e ,gds & s]vices tax/h>moniz$ sales tax 7,,gst/,,hst7--,on ,july #a1 #bjjf1 ! ,,gst rate 0 reduc$ f #g@3p 6#f@3p &! ,,hst rate f #ae@3p 6#ad@3p4 ,/>t+ 9 ,april #bjjg1 if y >e a fi%] .&a ,,gst/,,hst regi/rant1 y may rcv a mon?ly /ate;t ab yr ,,gst/,,hst a3.t 6help y /ay up-to-date4 ,^! new /ate;ts w 2 s5t 6y only if "! is activ;y on yr ,,gst/,,hst a3.t4 ,9t]g5],nal rollov]--,! #bjjf f$]al budget proposes 6all[ a tax def]ral 9 c]ta9 circum/.es ": an 9dividual's fi%+ prop]ty is transf]r$ 6! 9dividual's * or gr&*ild4 ,life"t capital ga9s exemp;n-- ,qualifi$ fi%+ prop]ty--,! f$]al budget proposes 6give #g ,:at's new = #bjjf8 9dividuals a3ess 6! 4#ejj1jjj life"t capital ga9s exemp;n 7,,lcge7 = capital ga9s >is+ f ! 4posi;n ( qualifi$ fi%+ prop]ty4 ,res]ve all[$ on c]ta9 4posi;ns ( fi%+ assets--,! f$]al budget proposes 6ext5d ! #aj-ye> res]ve p]iod = transf]s ( fi%+ prop]ty 0an 9dividual 6! 9dividual's * or gr&*ild4 ,c>ry-=w>d = busi;s losses & 9ve/;t tax cr$its 7,,itc's7--,! c>ry-=w>d p]iod = losses 9curr$ & cr$its e>n$ 9 tax ye>s t 5d af #bjje has be5 ext5d$ f #aj ye>s 6#bj ye>s4 ,appr5tice%ip job cre,n tax cr$it 7,,ajctc7--,! f$]al budget proposes 69troduce ! ,,ajctc1 : w provide taxpay]s :o employ an eligi# appr5tice 9 _! busi;s )a non- refunda# tax cr$it4 ,small tools--,! f$]al budget proposes 69cr1se ! co/ limit f 4#bjj 64#ejj = #h ,:at's new = #bjjf8 small tools acquir$ af ,may #a1 #bjjf4 ,my ,busi;s ,a3.t--,\r new onl9e s]vice provides 3v5i5t & secure a3ess 6a gr[+ range ( p]sonaliz$ busi;s a3.t 9=m,n & s]vices4 ,9 fall #bjjg1 ,my ,busi;s ,a3.t w al (f] a3ess = au?oriz$ ?ird "pies &a full range ( busi;s a3.t op;ns4 ,visit _+www.cra.gc.ca/mybusinessaccount_: 6f9d \ m ab ? excit+ a4i;n 6\r suite ( electronic s]vices = busi;s4 ,5d \tl9e ,if y h a visual impair;t1 y c get \r public,ns & yr p]sonaliz$ correspond;e 9 brl1 l>ge pr9t1 or etext 7;,,cd or diskette71 or on audio cassette or ,,mp#c4 ,= details1 visit \r ,web site at _+www.cra.gc.ca/alternate_: or call #a-hjj-iei-bbba4 #i #aj ,ta# ( 3t5ts #d ,page ,*apt] #a--,g5]al 9=m,n """"""""""""" #e ,busi;s & busi;s 9come """""""""""" #e ,h[ d y calculate yr fi%+ 9come8 "" #e ,busi;s records """"""""""""""""""" #f ,9/al;t pay;ts """""""""""""""""""" #h ,dates 6rememb] """"""""""""""""""" #h ,:at is a "pn]%ip8 """""""""""""""" #h ,9ve/;t tax cr$it 7,,itc7 """""""" #aj ,*apt] #b--,=m ,t#baba1 ,/ate;t ( ,fi%+ ,activities """""""""""""""" #aj ,sole proprietor%ips """"""""""""" #aj ,"pn]%ips """""""""""""""""""""""" #aj ,id5tific,n >ea """""""""""""""""" #aa ,fi%+ 9come """""""""""""""""""""" #aa ,fi%+ exp5ses """""""""""""""""""" #ac ,details ( equ;y 7page #b ( ,=m ,t#baba7 """"""""""""""""""""""" #bc ,details ( o!r "pn]s 7page #c ( ,=m ,t#baba7 """"""""""""""""""" #bc #aa ,ta# ( 3t5ts a#d ,*apt] #c--,capital co/ all[.e 7,,cca7 """""""""""""""""""""""""" #bc ,:at is ,,cca8 """"""""""""""""""" #bc ,def9i;ns """""""""""""""""""""""" #bc ,h[ m* ,,cca c y claim8 """""""""" #bd ,h[ d y make yr claim8 """"""""""" #be ,column #a--,class numb] """"""" #be ,column #b--,undepreciat$ capital co/ 7,,ucc7 at ! />t (! ye> """"""""""""""""""""""" #be ,column #c--,co/ ( a4i;ns 9 ! ye> """""""""""""""""""""""""" #be ,column #d--,proce$s ( 4posi;ns 9 ! ye> """"""""""""" #bf ,column #e--,,ucc af a4i;ns & 4posi;ns """"""""""""""""""""" #bf ,column #f--,adju/;t = curr5t- ye> a4i;ns """"""""""""""""""" #bg ,column #g--,base am.t = ,,cca #bg ,column #h--,rate 7@3p7 """""""" #bg ,column #i--,,cca =! ye> """"""" #bg ,column #aj--,,ucc at ! 5d (! ye> """""""""""""""""""""""""" #bh #ab ,ta# ( 3t5ts b#d ,classes ( deprecia# prop]ty """"" #bh ,special situ,ns """"""""""""""""" #bi ,*apt] #d--,eligi# capital exp5ditures """""""""""""""""""""" #cc ,:at is an eligi# capital exp5diture8 """""""""""""""""""" #cc ,:at is an annual all[.e8 """""""" #cc ,:at is a cumulative eligi# capital 7,,cec7 a3.t8 """""""""" #cc ,h[ 6calculate yr annual all[.e "" #cc ,sale ( eligi# capital prop]ty 9 ! #bjjf fiscal p]iod """"""""""" #cd ,exempt capital ga9s bal.e 7,,ecgb7 """"""""""""""""""""""" #cd ,elec;n """""""""""""""""""""""""" #ce ,replace;t prop]ty """"""""""""""" #ce ,eligi# capital prop]ty (a dec1s$ taxpay] """"""""""""""""" #ce ,*apt] #e--,fi%+ losses """""""""""" #ce ,fi%+ & non-capital losses """"""" #ce ,*apt] #f--,capital ,ga9s """""""""" #cf ,:at is a capital ga98 """"""""""" #cf ,:at is a capital loss8 """""""""" #cf #ac ,ta# ( 3t5ts c#d ,def9i;ns """""""""""""""""""""""" #cf ,h[ 6calculate yr capital ga9 or loss """"""""""""""""""""""""""" #cf ,qualifi$ fi%+ prop]ty & cumulative capital ga9s deduc;n """""""""""""""""""""""" #cg ,transf] ( fi%+ prop]ty 6a * """"" #cg ,transf] ( fi%+ prop]ty 6a sp\se or -mon-law "pn] """"""""""""""" #ch ,o!r special rules """"""""""""""" #ci ,capital co/ all[.e 7,,cca7 rates "" #dj ,,gst/,,hst """""""""""""""""""""""" #da ,9dex """""""""""""""""""""""""""""" #db #ad ,*apt] #a--,g5]al 9=m,n #e ,? *apt] has g5]al 9=m,n = all busi;ses4 ,x al has 9=m,n ( specific 9t]e/ 6"pn]%ips4 ,busi;s & busi;s 9come ,a busi;s is an activ;y t y 9t5d 6c>ry on = pr(it & "! is evid;e 6support t 9t5;n4 ,a busi;s 9cludes3 --a profes.n2 --a call+2 --a trade2 --a manufacture2 --an "utak+ ( any k9d2 & --an adv5ture or 3c]n 9 ! nature ( trade4 ,= m details1 see ,9t]pret,n ,bullet9 ,,it-#dei1 ,adv5ture or ,3c]n 9 ! ,nature ( ,trade4 ,busi;s 9come 9cludes 9come f any activ;y y d = pr(it4 ,see 8,:at is fi%+ 9come80 on page #b =a li/ ( activities t #ae ,*apt] #a a#e cd produce fi%+ 9come4 .,d .n 9clude employ;t 9come z busi;s 9come4 ,y 7 ask+8 ,"q ,:5 does a busi;s />t8 ,c ,i deduct ! co/s ,i 9cur 2f & dur+ ! />t (a busi;s8 ,answ] ,we look at ea* case on xs [n m]it4 ,g5],y1 we 3sid] t a busi;s />ts :5"e y />t "s significant activ;y t is a regul> "p (! busi;s1 or t is nec 6get ! busi;s go+4 ,= example1 suppose t y decide 6op5 a fi%+ busi;s & y buy 5 equip;t 6/>t ! busi;s4 ,we wd 3sid] ? 6be ! />t+ po9t ( yr busi;s4 ,y c usu,y deduct exp5ses y h 9curr$ f t date 6e>n 9come =! busi;s4 ,y cd / deduct ! exp5ses ev5 if1 despite all yr ef=ts1 ! busi;s w.d up4 ,on ! o!r h&1 suppose t y review s"eal di6]5t busi;s prospects 9 ! hope ( go+ #af ,*apt] #a b#e 96busi;s 9 ! fi%+ 9du/ry4 ,9 ? case1 we wd n 3sid] t yr busi;s has />t$1 & y wd 2 una# 6deduct any (! co/s y 9cur4 ,= m details ab ! />t (a busi;s1 see ,9t]pret,n ,bullet9 ,,it-#cfd1 ,-m;e;t ( ,busi;s ,op],ns1 or visit _+www.cra.gc.ca/smallbusiness_:4 ,! law all[s ,/ati/ics ,canada 6a3ess busi;s 9=m,n collect$ 0! ,,cra4 ,/ati/ics ,canada c n[ %>e ) prov9cial /ati/ical ag5cies1 = rese>* & analysis purposes only1 data 3c]n+ busi;s activities c>ri$ \ 9 _! prov9ce4 ,h[ d y calculate yr fi%+ 9come8 ,fiscal p]iod ,y report yr fi%+ 9come bas$ on a .fiscal .p]iod4 ,a fiscal p]iod is ! "t cov]$ f ! "d yr fi%+ busi;s />ts xs busi;s ye> 6! "d yr fi%+ busi;s 5ds xs busi;s ye>4 ,= an exi/+ busi;s1 ! #ag ,*apt] #a c#e fiscal p]iod is usu,y #ab mon?s4 ,a fiscal p]iod _c 2 l;g] ?an #ab mon?s4 ,h["e1 x c 2 %ort] ?an #ab mon?s 9 "s cases1 s* z :5 a new busi;s />ts or :5 a busi;s /ops4 ,self-employ$ 9dividuals g5],y h 6use a ,decemb] #ca ye>-5d4 ,if y >e an eligi# 9dividual1 y may 2 a# 6use an alt]native me?od ( report+ yr busi;s 9come t all[s y 6h a fiscal p]iod t does n 5d on ,decemb] #ca4 ,if y h a fiscal ye>-5d t is n ,decemb] #ca1 see ,guide ,,rc#djae1 ,reconcili,n ( ,busi;s ,9come = ,tax ,purposes1 6calculate ! am.t ( fi%+ 9come 6report on yr #bjjf 9come tax & b5efit return4 ,! guide 9cludes ,=m ,t#aaci1 ,reconcili,n ( #bjjf ,busi;s ,9come = ,tax ,purposes4 ,if y fil$ ,=m ,t#aaci ) yr #bjje 9come tax & b5efit return1 y g5],y h 6file "o ag = #bjjf4 #ah ,ca% me?od d#e ,:5 y use ? me?od1 y3 --report 9come 9 ! fiscal p]iod y rcv x2 & --deduct exp5ses 9 ! fiscal p]iod y pay !m4 ,= special rules on prepd exp5ses1 see 8,prepd exp5ses0 on page #ad4 ,if y use ! ca% me?od & rcv a po/-dat$ *eque z secur;y =a debt &! *eque is paya# 2f ! debt is due1 9clude ! am.t 9 yr 9come on "o (! foll[+ dates1 :i*"e is e>li]3 --! date ! debt is paya#2 or --! date y ca% or deposit ! *eque4 ,if y rcv a po/-dat$ *eque z an absolute pay;t =a debt1 9clude ! am.t 9 9come :5 y get ! *eque4 ,if ! f9ancial 9/itu;n does n hon\r ! *eque1 y c adju/ yr 9come !n4 ,note ,! prec$+ po/-dat$ *eque rules apply 69come-produc+ transac;ns1 s* z #ai ,*apt] #a e#e ! sale ( fi%4 ,!y d n apply 6transac;ns 9volv+ capital prop]ty1 s* z ! sale (a boat4 ,:5 y use ! ca% me?od 9 a fi%+ busi;s1 d n 9clude 9v5tory :5 y calculate yr 9come4 ,h["e1 y c 9clude 9 9v5tory ! co/ ( yr nets & traps4 ,we expla9 ? on page #ah4 ,a fi%+ "pn]%ip c use ! ca% me?od only if all ! "pn]s agree 6use x4 ,= m details on ! ca% me?od = fi%+ busi;ses1 see ,9t]pret,n ,bullet9 ,,it-#dcc1 ,f>m+ or ,fi%+--,use ( ,ca% ,me?od4 ,a3rual me?od ,:5 y use ? me?od y3 --report 9come 9 ! fiscal p]iod y e>n x1 no matt] :5 y rcv x2 & #bj ,*apt] #a #f --deduct exp5ses 9 ! fiscal p]iod y 9cur !m1 :e!r or n y pay !m 9 t p]iod4 ,= special rules on prepd exp5ses1 see 8,prepd exp5ses0 on page #ad4 ,:5 y calculate yr 9come1 9clude ! value ( all 9v5tories ( fi%1 fi% by- products1 supplies1 & s on4 ,make a li/ ( yr 9v5tory & c.t x at ! 5d ( yr fiscal p]iod4 ,keep ? li/ z "p ( yr busi;s records4 ,! value y give 6yr ye>-5d 9v5tory is important = calculat+ yr 9come4 ,if ? is yr f/ ye> ( fi%+1 "! >e two me?ods y c use 6value yr 9v5tory3 --,value yr 5tire 9v5tory at xs fair m>ket value 7,,fmv74 ,use ei ! price y wd pay 6replace an item1 or ! am.t y wd get if y sold an item4 ,see page #bd =! m1n+ ( .fair .m>ket .value4 --,value 9dividual items 9 yr 9v5tory at ei _! ,,fmv1 or _! co/1 :i*"e is less4 ,co/ is ! #ba ,*apt] #a a#f price y 9cur = an item1 plus any exp5ses y 9cur br++ an item 6yr busi;s loc,n & putt+ x 9 a 3di;n s t x c 2 us$ 9 ! busi;s4 ,:5 y _c easily value "o item di6]5tly f ano!r1 y c value ! items z a gr\p4 ,once y h *os5 a me?od = valu+ yr 9v5tory1 y h 6use t me?od 3si/5tly4 ,if ? is n yr f/ ye> ( fi%+ busi;s1 use ! same me?od y us$ 9 pa/ ye>s 6value yr 9v5tory4 ,! value ( yr 9v5tory at ! />t ( yr #bjjf fiscal p]iod is ! same z ! value at ! 5d ( yr #bjje fiscal p]iod4 ,9 yr f/ ye> ( fi%+ busi;s1 y w n h an op5+ 9v5tory at ! />t ( yr fiscal p]iod4 ,= m details on 9v5tories1 see ,9t]pret,n ,bullet9 ,,it-#dgc1 ,9v5tory ,valu,n4 #bb ,*ang+ yr me?od ( report+ b#f 9come ,if y decide 6*ange yr me?od ( report+ 9come f ! a3rual me?od 6! ca% me?od1 use ! ca% me?od :5 y file yr 9come tax & b5efit return4 ,make sure y 9clude a /ate;t t %[s ea* adju/;t y _h 6make 6yr 9come & exp5ses 2c (! di6];e 9 me?ods4 ,if y decide 6*ange f ! ca% me?od 6! a3rual me?od1 y h 6ask p]mis.n f ! ,director ( yr tax s]vices (fice4 ,ask = ? *ange 9 writ+ 2f ! date y h 6file yr 9come tax & b5efit return4 ,9 yr lr1 expla9 :y y want 6*ange me?ods4 ,2c "! is a di6];e 2t ! ca% & a3rual me?ods1 ! f/ "t y file yr 9come tax & b5efit return us+ ! a3rual me?od1 make sure y 9clude a /ate;t t %[s ea* adju/;t y _h 6make 6yr 9come & exp5ses4 ,busi;s records ,y h 6keep records ( all yr transac;ns 6be a# 6support yr 9come & exp5se #bc ,*apt] #a c#f claims4 ,"!=e1 yr records %d 2 -plete & organiz$4 ,"! >e o!r b5efits 6keep+ c>e;l records3 --,:5 y e>n 9come f _m places1 gd records help y id5tify ! s\rce (! 9come4 ,un.s y keep prop] records1 y may 2 una# 6prove t "s 9come is n f yr fi%+ busi;s1 or t x is n taxa#4 --,keep+ gd records w rem9d y ( exp5ses y c deduct :5 x is "t 6file yr 9come tax & b5efit return4 --,gd records w keep y bett] 9=m$ ab ! pa/ & pres5t f9ancial posi;n ( yr fi%+ busi;s4 --,gd records c help y budget & spot tr5ds 9 yr fi%+ busi;s1 & obta9 help f banks & o!r l5d]s4 --,gd records c prev5t pro#ms y may run 96if we audit yr 9come tax & b5efit returns4 #bd ,9come records d#f ,keep track (! gross 9come yr fi%+ busi;s e>ns4 ,gross 9come is yr total 9come 2f y deduct exp5ses4 ,yr 9come records %d %[ ! date1 ! am.t1 &! s\rce (! 9come4 ,record ! 9come :e!r x 0 paya# 9 ca%1 prop]ty1 or s]vices4 ,support all 9come 5tries ) orig9al docu;ts4 ,orig9al docu;ts 9clude sales slips = ea* l&+1 trip settle;t %eets1 & slips or records ( sale 6! public1 retail]s1 & re/aurants4 ,= an example ( h[ 6record yr 9come1 see page #g4 ,exp5se records ,alw get receipts1 9voices1 or o!r v\*]s :5 y buy m]*&ise or s]vices = yr busi;s4 ,! receipts h 6%[3 --! date (! pur*ase2 --! "n & a4ress (! sell] or suppli]2 --! "n & a4ress (! pur*as]2 & #be ,*apt] #a e#f --a full descrip;n (! gds or s]vices4 ,= an example ( h[ 6record yr exp5ses1 see page #g4 ,y 7 ask+8 ,"q ,:at %d ,i d if "! is no descrip;n on a receipt8 ,ansv] ,:5 y buy "s?+1 make sure ! sell] describes ! item on ! receipt4 ,if "! is no descrip;n1 write "o on ! receipt or 9 yr exp5se j\rnal4 ,"q ,:at %d ,i d if a suppli] does n give me a receipt8 ,answ] ,:5 y buy "s?+1 ask =a receipt4 ,h["e1 "s suppli]s may n give receipts4 ,9 ? case1 write #bf ,*apt] #a #g ! 9=m,n 9 yr records4 ,%[ ! "n & a4ress (! suppli]1 ! date ( yr pur*ase1 ! am.t y pd1 &! details (! transac;n4 ,if y plan 6claim capital co/ all[.e 7,,cca71 keep a record (! prop]ties y b"\ & sold4 ,? record %d %[ :o sold y a prop]ty1 ! co/1 &! date y b"\ x4 ,? 9=m,n w help y calculate yr ,,cca4 ,= m details on ,,cca1 see ,*apt] #c4 ,if y sell or trade a prop]ty1 %[ ! date y sold or trad$ x1 &! am.t y got f ! sale or trade-in4 ,yr record books ,keep a record ( yr daily 9come & exp5ses4 ,we d n issue record books or su7e/ a type ( book or set ( books4 ,"! >e _m record books & bookkeep+ sy/ems availa#4 ,= example1 y c use a book t has columns & sep>ate pages = 9come & exp5ses4 ,keep yr books1 al;g ) yr #bg ,*apt] #a a#g receipts1 duplicate deposit slips1 bank+ /ate;ts1 & c.ell$ *eques4 ,keep sep>ate records = ea* busi;s y run4 ,if y want 6keep -put]iz$ records1 make sure !y >e cle> & easy 6r1d4 ,note ,d n s5d yr records ) yr 9come tax & b5efit return4 ,h["e1 keep !m 9 case we ask 6see !m lat]4 ,if y d n keep ! nec 9=m,n & y d n h any o!r pro(1 we may h 6det]m9e yr 9come us+ o!r me?ods4 ,we may al h 6reduce ! exp5ses y deduct$4 ,example ,summ>y ,%eet =a ,fi%+ ,boat-- ,fi%+ on a ,%>e ,basis ,transcrib]'s note3 7,! foll[+ is set up 9 #ac columns47 #bh ,*apt] #a b#g ,date3 ,febru>y #ad ,gross /ock3 4#aj1jjj ,boat %>e3 4#d1jjj ,oil3 4#cjj ,bait3 4#djj ,ice3 4#bjj ,food3 4#cjj ,capta9's -mis.n3 4#bjj ,crewman ,numb] #a3 4#a1aej ,crewman ,numb] #b3 4#a1aej ,crewman ,numb] #c3 4#a1aej ,crewman ,numb] #d3 4#a1aej ,totals3 4#aj1jjj ,date3 ,m>* #aj ,gross /ock3 4#cj1jjj ,boat %>e3 4#ab1jjj ,oil3 4#cjj ,bait3 4#djj ,ice3 4#bjj ,food3 4#cjj ,capta9's -mis.n3 4#fjj ,crewman ,numb] #a3 4#d1jej ,crewman ,numb] #b3 4#d1jej #bi ,*apt] #a c#g ,crewman ,numb] #c3 4#d1jej ,crewman ,numb] #d3 4#d1jej ,totals3 4#cj1jjj ,date3 ,m>* #ai ,gross /ock3 4#bj1jjj ,boat %>e3 4#h1jjj ,oil3 4#cjj ,bait3 4#djj ,ice3 4#bjj ,food3 4#cjj ,capta9's -mis.n3 4#djj ,crewman ,numb] #a3 4#b1fjj ,crewman ,numb] #b3 4#b1fjj ,crewman ,numb] #c3 4#b1fjj ,crewman ,numb] #d3 4#b1fjj ,totals3 4#bj1jjj ,totals 7add all am.ts7 4#---- #cj ,summ>y ,%eet = ,boat & ,o!r d#g ,exp5ses ,transcrib]'s note3 7,! foll[+ is set up 9 twelve columns47 ,date3 ,janu>y #ai ,6:om pd3 ,%ipy>d ,boat repairs3 4#a1ejj ,5g9e repairs3 4#ijj ,electrical equip;t repairs3 4#---- ,rad> r5tal3 4#---- ,9sur.e3 4#---- ,9t]e/ on loan3 4#---- ,nets1 traps1 tw9e3 4#---- ,wages3 4#---- ,o!r ,descrip;n3 ---- ,o!r ,am.t3 4#---- ,date3 ,febru>y #c ,6:om pd3 ;,x ,suppli]s ,ltd4 ,boat repairs3 4#---- ,5g9e repairs3 4#---- #ca ,*apt] #a e#g ,electrical equip;t repairs3 4#---- ,rad> r5tal3 4#---- ,9sur.e3 4#---- ,9t]e/ on loan3 4#---- ,nets1 traps1 tw9e3 4#fjj ,wages3 4#---- ,o!r ,descrip;n3 ---- ,o!r ,am.t3 4#---- ,date3 ,m>* #ca ,6:om pd3 ,r5tal s]vices ,boat repairs3 4#---- ,5g9e repairs3 4#---- ,electrical equip;t repairs3 4#---- ,rad> r5tal3 4#hjj ,9sur.e3 4#---- ,9t]e/ on loan3 4#---- ,nets1 traps1 tw9e3 4#fjj ,wages3 4#---- ,o!r ,descrip;n3 ---- ,o!r ,am.t3 4#---- #cb ,*apt] #a f#g ,date3 ,m>* #ca ,6:om pd3 ,fi%]m5's loan ,boat repairs3 4#---- ,5g9e repairs3 4#---- ,electrical equip;t repairs3 4#---- ,rad> r5tal3 4#hjj ,9sur.e3 4#b1bej ,9t]e/ on loan3 4#ide ,nets1 traps1 tw9e3 4#fjj ,wages3 4#---- ,o!r ,descrip;n3 ---- ,o!r ,am.t3 4#---- ,date3 ,april #d ,6:om pd3 ,l4 ,electronics ,boat repairs3 4#---- ,5g9e repairs3 4#---- ,electrical equip;t repairs3 4#he ,rad> r5tal3 4#hjj ,9sur.e3 4#b1bej ,9t]e/ on loan3 4#ide ,nets1 traps1 tw9e3 4#fjj ,wages3 4#---- #cc ,*apt] #a g#g ,o!r ,descrip;n3 ---- ,o!r ,am.t3 4#---- ,date3 ,april #ab ,6:om pd3 ,b4 ,g>age ,boat repairs3 4#---- ,5g9e repairs3 4#---- ,electrical equip;t repairs3 4#he ,rad> r5tal3 4#hjj ,9sur.e3 4#b1bej ,9t]e/ on loan3 4#ide ,nets1 traps1 tw9e3 4#fjj ,wages3 4#---- ,o!r ,descrip;n3 ,c> repairs ,o!r ,am.t3 4#ge ,date3 ,may #b ,6:om pd3 ,j4,g4 ,smi? ,boat repairs3 4#---- ,5g9e repairs3 4#---- ,electrical equip;t repairs3 4#he ,rad> r5tal3 4#hjj ,9sur.e3 4#b1bej ,9t]e/ on loan3 4#ide #cd ,*apt] #a h#g ,nets1 traps1 tw9e3 4#fjj ,wages3 4#abj ,o!r ,descrip;n3 ,c> repairs ,o!r ,am.t3 4#ge ,date3 ,may #af ,6:om pd3 ,l4 ,electronics ,boat repairs3 4#---- ,5g9e repairs3 4#---- ,electrical equip;t repairs3 4#he ,rad> r5tal3 4#hjj ,9sur.e3 4#b1bej ,9t]e/ on loan3 4#ide ,nets1 traps1 tw9e3 4#fjj ,wages3 4#abj ,o!r ,descrip;n3 ,s.d] ,o!r ,am.t3 4#c1jjj ,totals 7add all am.ts7 4#---- #ce ,summ>y ,%eet = ,sales ,o!r i#g ,?an ,f ,fi%+ on a ,%>e ,basis ,transcrib]'s note3 7,! foll[+ is set up 9 sev5 columns47 ,date3 ,janu>y #af ,6:om sold3 ,fi% ,pack]s ,gross l&+s3 4#a1jjj ,deduct$ f sales proce$s3 ,gas3 4#cf.ej ,bait3 4#gd.ij ,o!r3 4#bj ,net ca% rcvd3 4#hfh.fj ,date3 ,janu>y #bj ,6:om sold3 ,fi% ,pack]s ,gross l&+s3 4#hjj ,deduct$ f sales proce$s3 ,gas3 4#bj.jj ,bait3 4#cf.jj ,o!r3 4#aj ,net ca% rcvd3 4#gcd.jj #cf ,*apt] #a j#g ,date3 ,janu>y3 #ba ,6:om sold3 ,j4 ,re/aurant--no fi% slip ,gross l&+s3 4#ajj ,deduct$ f sales proce$s3 ,gas3 4#---- ,bait3 4#---- ,o!r3 4#---- ,net ca% rcvd3 4#ajj.jj ,date3 ,janu>y3 #be ,6:om sold3 ,fi% ,pack]s ,gross l&+s3 4#idj ,deduct$ f sales proce$s3 ,gas3 4#cb.jj ,bait3 4#ef.jj ,o!r3 4#ab ,net ca% rcvd3 4#hdj.jj ,totals 7add all am.ts7 4#---- #cg ,summ>y ,%eet = ,exp5ses 7o!r #h ?an ^? deduct$ on fi% slips7 ,transcrib]'s note3 7,! foll[+ is set up 9 twelve columns47 ,date3 ,janu>y #d ,6:om pd3 ;,x ,suppli]s ,boat repairs3 4#---- ,5g9e repairs3 4#---- ,wages pd3 4#---- ,bait3 4#---- ,gas = boat3 4#---- ,rope3 4#be ,motor vehicle exp5ses3 4#---- ,mat]ials1 traps1 nets3 4#he ,o!r ,descrip;n3 ---- ,o!r ,am.t3 4#---- ,date3 ,janu>y #e ,6:om pd3 ,%ipy>d ,boat repairs3 4#cjj ,5g9e repairs3 4#---- ,wages pd3 4#---- #ch ,*apt] #a a#h ,bait3 4#---- ,gas = boat3 4#---- ,rope3 4#---- ,motor vehicle exp5ses3 4#---- ,mat]ials1 traps1 nets3 4#---- ,o!r ,descrip;n3 ---- ,o!r ,am.t3 4#---- ,date3 ,janu>y #g ,6:om pd3 ,prov9cial gov4 ,boat repairs3 4#---- ,5g9e repairs3 4#---- ,wages pd3 4#---- ,bait3 4#---- ,gas = boat3 4#---- ,rope3 4#---- ,motor vehicle exp5ses3 4#---- ,mat]ials1 traps1 nets3 4#---- ,o!r ,descrip;n3 ,fi%+ ,lic;e ,o!r ,am.t3 4#g ,date3 ,janu>y #g ,6:om pd3 ,b4 ,9sur.e ,boat repairs3 4#---- #ci ,*apt] #a b#h ,5g9e repairs3 4#---- ,wages pd3 4#---- ,bait3 4#---- ,gas = boat3 4#---- ,rope3 4#---- ,motor vehicle exp5ses3 4#bhj ,mat]ials1 traps1 nets3 4#---- ,o!r ,descrip;n3 ---- ,o!r ,am.t3 4#---- ,date3 ,janu>y #i ,6:om pd3 ,x4 ,s]vice ,/,n ,boat repairs3 4#---- ,5g9e repairs3 4#---- ,wages pd3 4#---- ,bait3 4#---- ,gas = boat3 4#---- ,rope3 4#---- ,motor vehicle exp5ses3 4#af ,mat]ials1 traps1 nets3 4#---- ,o!r ,descrip;n3 ---- ,o!r ,am.t3 4#---- #dj ,*apt] #a c#h ,date3 ,janu>y #ab ,6:om pd3 ,f4 ,j"os ,boat repairs3 4#---- ,5g9e repairs3 4#---- ,wages pd3 4#he ,bait3 4#---- ,gas = boat3 4#---- ,rope3 4#---- ,motor vehicle exp5ses3 4#---- ,mat]ials1 traps1 nets3 4#---- ,o!r ,descrip;n3 ---- ,o!r ,am.t3 4#---- ,date3 ,janu>y #ca ,6:om pd3 ,fi%]m5's loan ,boat repairs3 4#---- ,5g9e repairs3 4#---- ,wages pd3 4#---- ,bait3 4#---- ,gas = boat3 4#---- ,rope3 4#---- ,motor vehicle exp5ses3 4#---- ,mat]ials1 traps1 nets3 4#---- ,o!r ,descrip;n3 ,9t]e/ #da ,*apt] #a d#h ,o!r ,am.t3 4#age ,totals 7add all am.ts7 4#---- ,y use ! totals 6-plete ,=m ,t#baba1 ,/ate;t ( ,fi%+ ,activities4 ,"t limits = keep+ records ,dep5d+ on ! situ,n1 keep yr books1 records1 & relat$ v\*]s =! foll[+ l5g?s ( "t3 --if y file yr 9come tax & b5efit return on "t1 a m9imum ( six ye>s af ! 5d (! tax ye> 6: !y relate2 --if y file yr 9come tax & b5efit return late1 six ye>s f ! date y file t 9come tax & b5efit return2 & --if y file an objec;n or app1l1 until ei ! issue is settl$ &! "t = fil+ any fur!r app1l expires1 or ! six-ye> p]iod m5;n$ abv has expir$1 :i*"e is lat]4 #db ,*apt] #a e#h ,^! "t limits d n apply 6c]ta9 records4 ,= m details1 see ,9=m,n ,circul> ,,ic#gh-aj1 ,books & ,records ,ret5;n/,de/ruc;n4 ,if y want 6de/roy yr books1 records1 & relat$ v\*]s 2f ! m9imum six-ye> p]iod is ov]1 y m/ f/ get writt5 p]mis.n f ! ,director ( yr tax s]vices (fice4 ,6d ?1 ei use ,=m ,t#acg1 ,reque/ = ,de/ruc;n ( ,records1 or prep>e yr [n writt5 reque/4 ,9/al;t pay;ts ,z a self-employ$ fi%]1 y may h 6pay an annual 9/al;t 0,decemb] #ca1 #bjjg4 ,if \r records 9dicate t y may h 6pay yr tax 09/al;ts1 we w s5d y an 9/al;t rem9d] 9 late ,novemb] %[+ ! am.t we su7e/ y pay4 ,= m 9=m,n ab 9/al;t pay;ts or 9/al;t 9t]e/ *>ges1 see ,pamphlet ,p#aaj1 ,pay+ ,yr ,9come ,tax 0,9/al;ts4 #dc ,dates 6rememb] f#h ,febru>y #bh1 #bjjg--,if y h employees1 file yr #bjjf ,t#d ,summ>y or ,t#d;,a ,summ>y4 ,al1 give yr employees _! copies (! ,t#d or ,t#d;,a slips4 ,m>* #ca1 #bjjg--,mo/ fi%+ "pn]%ips w file a "pn]%ip 9=m,n return 0,m>* #ca1 #bjjg4 ,h["e1 "! >e excep;ns4 ,see ,guide ,t#djfh1 ,guide =! ,t#ejac ,"pn]%ip ,9=m,n ,return1 & ,9=m,n ,circul> ,,ic#hi-e1 ,"pn]%ip ,9=m,n ,return1 & xs ,special ,rel1se4 ,april #cj1 #bjjg--,pay;t ( any bal.e [+ is due4 ,y w h 6file yr 9come tax & b5efit return 0,april #cj1 #bjjg1 if ! exp5ditures ( yr #bjjf fi%+ busi;s >e prim>ily 3nect$ ) tax %elt]s4 ,june #ae1 #bjjg--,file yr #bjjf 9come tax & b5efit return if y h self-employ;t 9come1 or if y >e ! sp\se or -mon-law "pn] ( "s"o :o has s* 9come1 un.s ! exp5ditures (! busi;s >e prim>ily ! co/ or capital co/ ( tax %elt] 9ve/;ts4 #dd ,*apt] #a g#h ,h["e1 y h 6pay any bal.e [+ 0,april #cj1 #bjjg1 6avoid 9t]e/ *>ges4 ,decemb] #ca1 #bjjg--,pay yr #bjjg tax 9/al;t = 9come tax & ,canada ,p5.n ,plan 3tribu;ns4 ,note ,if any (! dates m5;n$ abv falls on a ,satur"d1 ,sun"d1 or a /atutory holi"d1 y h until ! next busi;s "d 6file yr returns or make yr pay;ts4 ,:at is a "pn]%ip8 ,a "pn]%ip is usu,y ! rel,n%ip 2t p]sons :o c>ry on a busi;s 9 -mon )! 2lief t !y w make a pr(it4 ,y c h a "pn]%ip )\t a writt5 agree;t4 ,"!=e1 6det]m9e if y >e a "pn]1 det]m9e ! type & ext5t ( yr 9volve;t 9 ! busi;s4 ,r1d ! laws ( yr prov9ce or t]ritory 6help y decide if y >e a "pn] 9 a busi;s4 ,:5 y =m1 *ange1 or 4solve a "pn]%ip1 3sid]3 #de ,*apt] #a h#h --:e!r ! rel,n%ip is a "pn]%ip2 --! special rules ab capital ga9s or losses &! recapture ( ,,cca t apply :5 y give prop]ties 6a "pn]%ip4 ,= details on ,,cca1 see ,*apt] #c2 --! rules t apply :5 y 4solve a "pn]%ip2 & --! rules t apply :5 y sell or 4pose ( yr 9t]e/ 9 a "pn]%ip4 ,9t]pret,n ,bullet9 ,,it-#ij1 ,:at is a ,"pn]%ip81 gives m details ab "pn]%ips4 ,report+ "pn]%ip 9come ,a "pn]%ip does n pay tax on xs 9come or file an 9come tax return4 ,9/1d1 ea* "pn] files an 9come tax --------------------------------------#i & b5efit return 6report 8 or h] %>e (! "pn]%ip's net 9come or loss4 ,! "pn]s h #df ,*apt] #a a#i 6d ? :e!r ! %>e ( 9come 0 rcvd 9 ca% or z a cr$it 6a capital a3.t 9 ! "pn]%ip4 ,gds & s]vices tax/h>moniz$ sales tax 7,,gst/,,hst7 rebate ,if y >e a "pn] 9 a "pn]%ip & y claim exp5ses on yr 9come tax & b5efit return1 y may 2 a# 6obta9 a rebate = any ,,gst/- ,,hst y pay on ! exp5ses4 ,! ,,gst/,,hst rebate is availa# 6y z l;g z y meet .bo? (! foll[+ 3di;ns3 --y >e a "pn] 9 a ,,gst/,,hst- regi/]$ "pn]%ip2 & --on yr 9come tax & b5efit return1 y deduct exp5ses 9curr$ 6e>n "pn]%ip 9come = : ! "pn]%ip did n repay y4 ,we base ! rebate on ! am.t (! exp5ses subject 6,,gst/,,hst t y deduct on yr 9come tax & b5efit return4 ,examples ( exp5ses subject 6,,gst/,,hst >e vehicle co/s & c]ta9 busi;s-use-(-home exp5ses4 ,y c al get a ,,gst/,,hst rebate = ,,cca y claim on c]ta9 types ( prop]ty4 #dg ,*apt] #a b#i ,= example1 y c claim ,,cca =a vehicle y b"\ 6e>n "pn]%ip 9come if y pd ,,gst/- ,,hst :5 y b"\ x4 ,use ! *>t 8,o!r am.ts deducti# f yr %>e ( net "pn]%ip 9come 7loss70 on page #b ( ,=m ,t#baba1 ,/ate;t ( ,fi%+ ,activities1 6claim exp5ses = : ! "pn]%ip did n reimburse y or any o!r deducti# am.ts4 ,= m 9=m,n1 see 8,l9e #iidc--,o!r am.ts deducti# f yr %>e ( net "pn]%ip 9come 7loss70 on page #bb4 ,= m details ab ! ,,gst/,,hst rebate1 see ,guide ,,rc#djia1 ,,gst/,,hst ,rebate = ,"pn]s1 : 9cludes ,=m ,,gst#cgj1 ,employee & ,"pn] ,,gst/,,hst ,rebate ,applic,n4 ,"pn]%ip losses ,if a "pn]%ip has a loss1 apply ! loss c>ry-ov] rules 6ea* "pn]1 & n 6! "pn]%ip4 ,= example1 :5 y -plete yr 9come tax & b5efit return1 -b9e yr %>e (! "pn]%ip fi%+ losses ) any o!r #dh ,*apt] #a c#i non-capital losses y h 9 ! ye>4 ,!n apply ? am.t ag/ yr 9come us+ ! usual loss c>ry-ov] rules4 ,y c c>ry back yr #bjjf non-capital loss up 6?ree ye>s4 ,! c>ry-=w>d p]iod = non-capital losses 9curr$ 9 tax ye>s 5d+ 2f ,m>* #bc1 #bjjd1 is sev5 ye>s4 ,! c>ry-=w>d p]iod = non-capital losses 9curr$ 9 tax ye>s 5d+ af ,m>* #bb1 #bjjd1 & 2f ,janu>y #a1 #bjjf1 is #aj ye>s4 ,/>t \tl9e ,! c>ry-=w>d p]iod = losses 9curr$ & cr$its e>n$ 9 tax ye>s t 5d af #bjje has be5 ext5d$ f #aj ye>s 6#bj ye>s4 ,5d \tl9e ,"pn]%ips t h 6file a "pn]%ip 9=m,n return ,a "pn]%ip ) six or m "pn]s at any "t 9 ! fiscal p]iod has 6file a #di ,*apt] #a d#i "pn]%ip 9=m,n return4 ,a "pn]%ip ) five "pn]s or less "?\t ! :ole fiscal p]iod al has 6file a "pn]%ip 9=m,n return :5 "o or m ( xs "pn]s is ano!r "pn]%ip4 ,"! >e o!r situ,ns 9 : y h 6file a "pn]%ip 9=m,n return4 ,= m 9=m,n1 see ,guide ,t#djfh1 ,guide =! ,t#ejac ,"pn]%ip ,9=m,n ,return4 ,if y >e a "pn] 9 a "pn]%ip t has 6file a "pn]%ip 9=m,n return1 y %d get two copies (! ,t#ejac slip1 ,/ate;t ( ,"pn]%ip ,9come1 or ! ,t#ejac;,a slip1 ,/ate;t ( ,"pn]%ip ,9come = ,tax ,%elt]s & ,ren\nc$ ,res\rce ,exp5ses1 f ! "pn]%ip4 ,if y d n rcv ^! slips1 3tact ! p]son :o prep>es ! =ms =! "pn]%ip4 ,on yr 9come tax & b5efit return1 report ! gross "pn]%ip 9come & yr %>e (! net "pn]%ip 9come or loss4 ,y w get ^! am.ts f yr ,t#ejac or ,t#ejac;,a slips4 ,atta* a copy ( yr slip 6yr 9come tax & b5efit return4 ,d n atta* ! "pn]%ip's 9come & exp5se /ate;t 6yr 9come tax & b5efit return4 #ej ,*apt] #a e#i ,y may ne$ 6adju/ yr %>e (! net "pn]%ip 9come or loss %[n on yr ,t#ejac or ,t#ejac;,a slips = any busi;s exp5ses y 9cur = : ! "pn]%ip did n repay y1 &= any o!r deducti# am.ts4 ,if ? is yr situ,n1 see 8,l9e #iidc--,o!r am.ts deducti# f yr %>e ( net "pn]%ip 9come 7loss70 on page #bb4 ,y may al h exp5ses relat$ 6! busi;s use ( yr home4 ,= m 9=m,n1 see 8,l9e #iide--,busi;s-use-(- home exp5ses0 on page #bb4 ,guide ,t#djfh1 ,guide =! ,t#ejac ,"pn]%ip ,9=m,n ,return1 has m details ab ! "pn]%ip 9=m,n return4 ,"pn]%ips t d n h 6file a "pn]%ip 9=m,n return ,g5],y1 a "pn]%ip does n h 6file a "pn]%ip 9=m,n return if x has five "pn]s or less "?\t ! :ole fiscal p]iod & no "pn] is ano!r "pn]%ip4 ,= m 9=m,n1 see ,guide ,t#djfh1 ,guide =! ,t#ejac ,"pn]%ip ,9=m,n ,return4 #ea ,*apt] #a f#i ,if y >e a "pn] 9 a "pn]%ip t does n h 6file a "pn]%ip 9=m,n return1 use ! same rules 6calculate ! "pn]%ip's 9come & exp5ses z y wd =a proprietor%ip4 ,calculate ! "pn]%ip's 9come & exp5ses z if ! "pn]%ip 7 a sep>ate p]son4 ,"s rules = capital co/ all[.e & eligi# capital exp5ditures on "pn]%ip-[n$ prop]ty >e di6]5t4 ,we expla9 ^! rules 9 ! sec;ns1 8,capital co/ all[.e 7,,cca70 & 8,eligi# capital exp5ditures0 on ! next page4 -------------------------------------#aj ,capital co/ all[.e 7,,cca7 ,a "pn]%ip c [n deprecia# prop]ty & claim ,,cca on x4 ,z an 9dividual "pn]1 y _c claim ,,cca on prop]ty ! "pn]%ip [ns4 ,f ! capital co/ ( deprecia# prop]ty1 subtract any 9ve/;t tax cr$it allocat$ 6! 9dividual "pn]s4 ,we 3sid] ? alloc,n 6be made at ! 5d (! "pn]%ip's fiscal p]iod4 ,y al reduce capital co/ #eb ,*apt] #a a#aj 0any type ( gov]n;t assi/.e4 ,= m details ab ,,cca &! adju/;ts 6capital co/1 see ,*apt] #c4 ,any taxa# capital ga9 or recapture f ! sale ( prop]ty ! "pn]%ip [ns is 9clud$ 9 ! 9come (! "pn]%ip4 ,al1 any all[a# capital or t]m9al loss f ! sale ( "pn]%ip-[n$ prop]ty is ! loss (! "pn]%ip4 ,= m 9=m,n ab capital ga9s & losses1 see ,guide ,t#djcg1 ,capital ,ga9s4 ,= 9=m,n ab recapture & t]m9al losses1 see 8,column #e--,,ucc af a4i;ns & 4posi;ns0 on page #bf4 ,eligi# capital exp5ditures ,a "pn]%ip c [n eligi# capital prop]ty & deduct an annual all[.e4 ,any 9come f ! sale ( eligi# capital prop]ty ! "pn]%ip [ns is 9come (! "pn]%ip4 ,= m details ab eligi# capital exp5ditures1 see ,*apt] #d4 #ec ,limit$ "pn]%ip b#aj ,a limit$ "pn]%ip is a "pn]%ip t gives xs limit$ "pn]s responsibilities simil> 6^? giv5 6%>ehold]s (a corpor,n4 ,a limit$ "pn] is g5],y "s"o ^: liabil;y z a "pn] is limit$1 z oppos$ 6t (a g5]al "pn]4 ,9ve/;t tax cr$it 7,,itc7 ,! ,,itc lets y subtract f ! taxes y [e "p (! co/ ( "s types ( prop]ty y acquir$ or exp5ditures y 9curr$4 ,y may 2 a# 6claim ? tax cr$it if1 9 #bjjf1 y b"\ qualify+ prop]ty1 9curr$ qualifi$ exp5ditures1 or 7 allocat$ ren\nc$ ,canadian explor,n exp5ses4 ,y may al 2 a# 6claim ! cr$it if y h unus$ ,,itc's f ye>s 2f #bjjf4 ,/>t \tl9e ,! f$]al budget proposes 69troduce ! appr5tice%ip job cre,n tax cr$it 7,,ajctc74 ,eligi# employ]s :o #ed ,*apt] #a c#aj hire new appr5tices 9 ! f/ two ye>s ( _! prov9ci,y regi/]$ appr5tice%ip 3tract c claim ? cr$it4 ,? cr$it w 2 claim$ on ,=m ,t#bjch7,,9d71 ,9ve/;t ,tax ,cr$it 7,9dividuals74 ,5d \tl9e ,= m details ab ! ,,itc1 see ,=m ,t#bjch7,,9d74 #ee d#aj #ef ,*apt] #b--,=m ,t#baba1 e#aj ,/ate;t ( ,fi%+ ,activities ,sole proprietor%ips ,if y >e a sole proprietor (a fi%+ busi;s1 -plete all ! applica# >1s & l9es on ,=m ,t#baba4 ,"pn]%ips ,! details y h 6give u ab yr fi%+ activities dep5d on ! type ( yr "pn]%ip4 ,if y >e a "pn] 9 a "pn]%ip t .has 6file a "pn]%ip 9=m,n return1 -plete ,=m ,t#baba z foll[s3 --,complete ! 8,id5tific,n0 >ea4 --,5t] ! am.t %[n 9 box #dc 7or box #ba if a limit$ "pn]%ip7 ( yr ,t#ejac or ,t#ejac;,a slips1 on l9e ;c ( ,=m ,t#baba4 --,complete ! 8,o!r am.ts deducti# f yr %>e ( net "pn]%ip 9come 7loss70 *>t 6claim any exp5ses = : ! "pn]%ip did n reimburse y1 #eg ,*apt] #b f#aj or o!r am.ts y may 2 a# 6deduct4 ,al1 -plete ! 8,calcul,n ( busi;s- use-(-home exp5ses0 *>t if x applies 6y4 ,= m 9=m,n1 see page #bb4 --,5t] yr %>e (! net 9come or loss f ! fi%+ busi;s on l9e #iidf1 8,yr net 9come 7loss740 ,if y did n make any adju/;ts 6! am.t 9 box #dc 7or box #ba if a limit$ "pn]%ip7 ( yr ,t#ejac or ,t#ejac;,a slips1 ! am.t y 5t] on l9e #iidf w 2 ! same z ! am.t y 5t]$ on l9e ;c4 ,if y >e a "pn] 9 a "pn]%ip t does .n h 6file a "pn]%ip 9=m,n return1 -plete ,=m ,t#baba z foll[s3 --,complete ! 8,id5tific,n0 >ea4 --,complete ! 8,9come0 sec;n 6report ! busi;s 9come =! "pn]%ip4 --,complete ! 8,exp5ses0 sec;n 6report ! busi;s "p ( exp5ses =! "pn]%ip4 #eh ,*apt] #b g#aj --,complete ! 8,o!r am.ts deducti# f yr %>e ( net "pn]%ip 9come 7loss70 *>t 6claim any exp5ses = : ! "pn]%ip did n reimburse y1 or any o!r am.ts y may 2 a# 6deduct4 ,al1 -plete ! 8,calcul,n ( busi;s-use- (-home exp5ses0 *>t if x applies 6y4 ,= m 9=m,n1 see page #bb4 --,complete ! 8,details ( o!r "pn]s0 *>t4 ,6see if yr "pn]%ip has 6file a "pn]%ip 9=m,n return1 r1d 8,"pn]%ips t h 6file a "pn]%ip 9=m,n return0 on page #i4 ,lat] 9 ? *apt]1 z well z 9 ,*apt] #c1 we expla9 h[ 6-plete ea* l9e on ,=m ,t#baba4 -------------------------------------#aa ,id5tific,n >ea ,-plete all ! l9es t apply 6yr fi%+ busi;s4 ,9dicate ! p]iod yr fi%+ busi;s ye> cov]$1 : is yr fiscal p]iod4 ,= an #ei ,*apt] #b a#aa explan,n ( fiscal p]iod1 see 8,fiscal p]iod0 on page #e4 ,5t] ! "n &! vessel regi/r,n numb] 7,,vrn7 giv5 0,fi%]ies & ,oc1ns ,canada ( yr boat4 ,if yr boat has no =mal "n1 5t] ! ,,vrn only4 ,9dicate ! ma9 species y caues --#aadacc ,salt wat] fi%+--,boat [n]s )\t crew%>es --#aadadc ,salt wat] fi%+--,%>esman --#aadabd ,9l& fi%+--,boat [n]s ) crew%>es --#aadacd ,9l& fi%+--,boat [n]s )\t crew%>es --#aadadd ,9l& fi%+--,%>esman --#aabeaj ,animal aquaculture #fj ,*apt] #b b#aa ,if y did n prep>e yr ,=m ,t#baba1 5t] ! "n & a4ress (! p]son or ! firm t prep>$ x = y4 ,if yr ,=m ,t#baba is =a fi%+ "pn]%ip1 5t] ! "pn]%ip fil] id5tific,n numb]1 if y h "o1 & id5tify yr p]c5tage (! "pn]%ip4 ,5t] yr #ae-digit ,busi;s ,numb] 9 ! appropriate >ea4 ,if y h a tax %elt]1 5t] ! id5tific,n numb] on ! appropriate l9e4 ,if y >e claim+ a deduc;n or losses = #bjjf1 atta* 6yr 9come tax & b5efit return any applica# ,t#ejjc1 ,/ate;t ( ,tax ,%elt] ,9=m,n & ,t#ejac;,a1 ,/ate;t ( ,"pn]%ip ,9come = ,tax ,%elt]s & ,ren\nc$ ,res\rce ,exp5ses1 slips &a -plet$ ,=m ,t#ejjd1 ,claim = ,tax ,%elt] ,loss or ,deduc;n1 ,gift & ,don,n ,tax ,cr$it1 or ,political ,don,n ,tax ,cr$it4 ,= m 9=m,n on tax %elt]s1 visit _+www.cra.gc.ca/taxshelters_:4 #fa ,fi%+ 9come c#aa ,? sec;n expla9s h[ 6-plete ! 8,9come0 >ea on ,=m ,t#baba4 ,t#d slip1 ,/ate;t ( ,remun],n ,pd ,/>t+ 9 ,janu>y #bjjg1 a fi%]'s 9come m/ 2 report$ on a ,t#d slip1 z we no l;g] produce or a3ept ! ,t#d;,f slip or ,t#d;,f ,summ>y4 ,if y employ fi%]s1 see ,guide ,,rc#dabj1 ,fil+ ! ,t#d ,slip & ,summ>y4 ,z a fi%]1 y may h rcvd a ,t#d slip t %[s yr fi%+ 9come4 ,s9ce yr ,t#d slip may n %[ all yr fi%+ 9come =! ye>1 y %d keep a detail$ record ( all yr fi%+ 9come4 ,5t] on ,=m ,t#baba ! 9come y rcvd 9 yr #bjjf fiscal p]iod4 ,yr ,t#d slip al %[s ! am.t ( 9come tax t has be5 deduct$ f yr fi%+ 9come =! cal5d> ye>4 ,h["e1 if yr fiscal p]iod 5d$ on a date o!r ?an ,decemb] #ca1 5t] on #fb ,*apt] #b d#aa l9e #dcg ( yr 9come tax & b5efit return ."o ( ^! am.ts3 --! total tax deduct$ =! ye>1 z %[n on yr ,t#d slip2 or --! "p (! tax deduct$ = yr #bjjf fiscal p]iod 7in #bjjg1 y claim ! am.t t rema9s74 ,9 ei case1 9clude yr ,t#d slip ) yr #bjjf 9come tax & b5efit return4 ,if y >e claim+ 9come tax t 0 deduct$ f a #bjje ,t#d or ,t#d;,f slip1 atta* a note 6yr #bjjf 9come tax & b5efit return tell+ u y >e do+ ?4 ,y c *oose 6h tax deduct$ at ! rate ( #bj@3p on an am.t y w rcv f a cat*4 ,6d ?1 -plete ,=m ;,,td#c;,f1 ,fi%]'s ,elec;n = ,tax ,deduc;ns at ,s\rce1 : y &! buy] (! cat* or ! designat$ employ] h 6sign4 ,sale ( fi% ,9clude all am.ts y rcvd f ! sale ( fi%1 lob/]1 scallops1 & s on4 ,if #fc ,*apt] #b e#aa y sell on ! hi< s1s1 report ! am.t y rcvd 9 ,canadian doll>s4 ,use ! ex*ange rate 9 e6ect at ! "t y sold ! fi%4 ,if y sell at v>i\s "ts 9 ! ye>1 use an av]age rate4 ,o!r m>9e products ,9clude all am.ts y rcvd f ! sale ( ,iri% moss1 h]r+ scales1 h]r+ roe1 s1l m1t & flipp]s1 s1we$1 kelp1 roe on kelp1 & s on4 ,grants1 cr$its1 & rebates ,y %d subtract f ! applica# exp5se any grant1 cr$it1 or rebate y rcvd1 & 5t] ! net figure on ! appropriate l9e on ,=m ,t#baba4 ,if y _c apply ! grant1 cr$it1 or rebate y rcvd 6reduce a "picul> exp5se1 9clude ! total am.t on ? l9e4 #fd ,*apt] #b f#aa ,= example1 if y h rcvd ! ,,gst/,,hst 9put tax cr$it = yr fi%+ exp5ses1 reduce ! am.t (! exp5ses 0! am.t (! cr$it4 ,if ! grant1 cr$it1 or rebate is =a deprecia# asset1 subtract ! am.t y rcvd f ! asset's capital co/4 ,? min "pn]%ip 9come = : ! "pn]%ip did n repay y4 ,we base ! rebate on ! am.t ( exp5ses 6: ,,gst/- ,,hst applies t y deduct$ on yr 9come tax & b5efit return4 ,exp5ses #fe ,*apt] #b a#ab 9clude vehicle co/s1 m1ls1 5t]ta9;t1 & c]ta9 busi;s-use-(-home exp5ses4 ,y may al h rcvd a ,,gst/,,hst rebate = ,,cca y claim$ on a vehicle y b"\ 6e>n "pn]%ip 9come4 ,if y ?9k y may 2 eligi# = ? ,,gst/- ,,hst rebate1 see ,guide ,,rc#djia1 ,,gst/,,hst ,rebate = ,"pn]s1 : 9cludes ,=m ,,gst#cgj1 ,employee & ,"pn] ,,gst/- ,,hst ,rebate ,applic,n4 ,-plete ,=m ,,gst#cgj & atta* x 6yr 9come tax & b5efit return4 ,subsidies ,9clude ! 9come y rcvd dur+ yr #bjjf fiscal p]iod f all fi%+ subsidy programs made 6fi%]s "u f$]al1 prov9cial1 t]ritorial1 municipal1 or jo9t programs4 #ff ,-p5s,n = loss ( fi%+ b#ab 9come or prop]ty ,y may h rcvd 9sur.e proce$s = prop]ty t 0 lo/ or de/roy$4 ,if y previ\sly deduct$ ! co/ (! prop]ty z an exp5se1 9clude ! am.t (! proce$s 9 yr fi%+ 9come4 ,? al 9cludes any am.ts y may h rcvd = lo/ or de/roy$ nets & traps y 9clud$ 9 9v5tory4 ,al 9clude on ? l9e -p5s,n y rcvd = loss ( 9come1 s* z pay;ts f ! ,fi%]ies ,re/ructur+ & ,adju/;t ,program4 ,-p5s,n = lo/ or de/roy$ capital prop]ty1 s* z a fi%+ boat1 equip;t1 or nets & traps y capitalize1 >e proce$s ( 4posi;n =! prop]ty4 ,"!=e1 y h 6deduct ! proce$s f ! undepreciat$ capital co/ (! class 6: ! prop]ty 2l;gs4 ,see ,*apt] #c = details4 ,o!r 9come ,y may h o!r types ( fi%+ 9come t >e n li/$ on ,=m ,t#baba4 ,%[ ? 9come #fg ,*apt] #b c#ab on ! 8,o!r 9come0 l9e4 ,2l1 we h li/$ "s (! m -mon types ( o!r 9come4 ,patronage divid5ds ,9clude all patronage divid5ds 7o!r ?an ^? = 3sum] gds or s]vices7 9 yr 9come 9 ! ye> y rcvd !m4 ,we 3sid] a patronage divid5d t is a %>e or a c]tificate ( 9debt$;s 6be 9come :5 y rcvd x4 ,pay+ debts ) "p (a cat* ,y may h b"\ prop]ty or pd (f a debt ) fi% or o!r cat* 9/1d ( m"oy4 ,9 ? case1 9clude 9 yr 9come ! fair m>ket value 7,,fmv7 (! fi% or o!r cat*4 ,see page #bd =! def9i;n ( .fair .m>ket .value4 ,y may h pd (f a busi;s exp5se ) fi% or o!r cat*4 ,if y did ?1 9clude 9 9come ! ,,fmv (! fi% or o!r cat*4 ,!n y c deduct z an exp5se ! ,,fmv ( t fi% or o!r cat*4 #fh ,sale ( prop]ty d#ab ,! tax tr1t;t (! proce$s ( 4posi;n f a sale dep5ds on ! type ( prop]ty y sold4 ,= 9/.e1 if y sold capital prop]ty1 y may h 69clude 9 yr 9come a capital ga9 &a recapture ( ,,cca1 or y may 2 a# 6deduct a t]m9al loss4 ,see ,*apt] #c = m 9=m,n4 ,on ! o!r h&1 y may h sold an item t y deduct$ z an exp5se1 s* z small tools4 ,9 ? case1 9clude ! proce$s ( 4posi;n =! tools 9 yr 9come4 ,h["e1 if y sold a fi%+ boat &! sale price 9cludes o!r items s* z a fi%+ lic;e1 nets1 or traps1 y h 6divide ! proce$s ( 4posi;n am;g ! items4 ,y &! buy] %d try 6r1* an agree;t on ! price = ea* item4 #fi ,*apt] #b #ac ,example ,ri*>d sold 8 fi%+ boat1 lic;es1 & s on 6,/acey = 4#cb1ejj4 ,ri*>d & ,/acey agree on h[ 6divide ! proce$s ( 4posi;n4 ,6det]m9e h[ 6tr1t ea* item1 !y set up ? *>t3 ,transcrib]'s note3 7,! foll[+ is set up 9 ?ree columns3 ,column #a3 ,item ,column #b3 ,am.t ,column #c3 ,tax tr1t;t7 ,item3 ,fi%+ boat ,am.t3 4#bj1jjj ,tax tr1t;t3 .,ri*>d deducts :i*"e is less3 ! proce$s ( 4posi;n 7net ( 4posi;n co/s7 or ! capital co/ f ! class4 ,ri*>d may al h a capital ga9 z well z a recapture ( ,,cca1 or a t]m9al loss4 ,see ,*apt] #c4 #gj ,*apt] #b a#ac .,/acey a4s ! am.t 6! class4 ,see ,*apt] #c = details on ,,cca4 ,item3 ,nets & traps ,am.t3 4#g1jjj ,tax tr1t;t3 .,ri*>d 9cludes ! am.t 9 8 9come if he 9v5tories 8 nets & traps1 or he 9cludes ! am.t z proce$s ( 4posi;n if he capitalizes 8 nets & traps4 ,he may al h a capital ga9 z well z a recapture ( ,,cca1 or a t]m9al loss4 ,see ,*apt] #c4 .,/acey r1ds 8,l9e #iacg--,nets & traps0 on page #ag4 ,item3 ,fi%+ lic;es ,am.t3 #e1jjj ,tax tr1t;t3 .,ri*>d & .,/acey r1d ,*apt] #d = 9=m,n on eligi# capital exp5ditures4 #ga ,*apt] #b b#ac ,item3 ,hooks1 l9es1 etc4 ,am.t3 4#ejj ,tax tr1t;t3 .,ri*>d 9cludes ? am.t 9 8 9come4 .,/acey deducts ? am.t z an exp5se4 ,total 7add all am.ts7 4#cb1ejj ,9come f relat$ activities ,report o!r 9come y rcvd t is n on yr ,t#d slip or else": on ,=m ,t#baba4 ,"s examples ( o!r 9come >e 9comes y rcvd "w+ z a capta91 5g9e]1 f/ mate1 or cook4 ,an [n] may h pd y wages & let y keep "p (a cat*4 ,9 ? case1 9clude ! wages on ! appropriate l9e ( yr 9come tax & b5efit return &! bal.e rcvd z 8,o!r 9come0 on ,=m ,t#baba4 ,if y >e a resid5t ( ,canada & fi% on a =eign vessel1 9clude 9 yr 9come any am.t y rcvd z wages or z yr %>e (! cat*4 ,report ! am.t y rcvd 9 ,canadian doll>s4 #gb ,%>esp]son 9come c#ac ,report ! 9come y rcvd z a %>esp]son4 ,al1 write d[n ! "n (! fi%+ boat & capta94 ,l9e #hbii--,gross 9come ,gross fi%+ 9come is yr total fi%+ 9come 2f y deduct exp5ses4 ,5t] yr gross fi%+ 9come on l9e #agj ( yr 9come tax & b5efit return4 ,fi%+ exp5ses ,:o c claim exp5ses8 ,if y >e a self-employ$ fi%]1 y c deduct c]ta9 am.ts y sp5t 6e>n fi%+ 9come4 ,see 8,is ? guide = y80 on page #b =! def9i;n ( self-employ$ fi%]4 ,if y use ! ca% me?od ( report+ 9come & exp5ses1 y c only deduct exp5ses t y pd 9 ! ye>4 ,if y >e us+ ! a3rual me?od1 y c deduct exp5ses 9curr$ dur+ ! #gc ,*apt] #b d#ac ye>1 :e!r y pd !m or n4 ,"! >e special rules = deduct+ prepd exp5ses4 ,^! rules >e expla9$ on page #ad4 ,note ,:5 y claim ! ,,gst/,,hst y pd on yr fi%+ exp5ses z an 9put tax cr$it1 reduce ! am.ts (! exp5ses 6: ! cr$it relates 0! am.t (! 9put tax cr$it4 ,d ? :5 ! ,,gst/,,hst = : y >e claim+ ! 9put tax cr$it 0 pd or 2came paya#4 8,5t] busi;s "p only10 on ,=m ,t#baba1 m1ns t y ._c 9clude any (! foll[+ z "p ( yr exp5ses3 --sal>y1 wages1 or draw+s pd 6yrf or yr "pn]s2 --co/ ( salea# gds or s]vices y1 yr family1 or yr "pn]s & _! families us$2 --don,ns 6*>ities & political 3tribu;ns2 --9t]e/ & p5alties y pd on yr 9come tax2 #gd ,*apt] #b e#ac --life 9sur.e premiums2 --! "p ( any exp5ses t c 2 attribut$ 6yr p]sonal use ( prop]ty or s]vices ( yr fi%+ busi;s2 & --mo/ f9es & p5alties impos$ af ,m>* #bb1 #bjjd1 "u a law ( ,canada or a prov9ce or =eign c.try4 ,fi%+ boat [n]s ,z a fi%+ boat [n]1 y c deduct all ! exp5ses y 9curr$ = ea* trip4 ,? 9cludes ! exp5ses 6calculate ! crew%>es4 ,y may 2 a# 6deduct exp5ses :5 y us$ yr home = busi;s purposes4 ,y may al 2 a# 6deduct ! co/ 6travel 2t yr home &! fi%+ boat4 -------------------------------------#ad ,h["e1 6deduct ei ( ^! exp5ses1 y h 6meet c]ta9 3di;ns4 ,we expla9 ^! 3di;ns on 8,l9e #iide--,busi;s-use-(-home exp5ses0 on page #bb & on 8,l9e #ibha-- ,motor vehicle exp5ses0 on page #ae4 #ge ,*apt] #b a#ad ,y c al deduct o!r exp5ses y pd 6e>n fi%+ 9come1 z well z ,,cca on prop]ty y [n$ & us$ 6e>n fi%+ 9come4 ,we expla9 ,,cca 9 ,*apt] #c4 ,capta9s ( fi%+ boats ,z ! capta9 (a fi%+ boat1 y c deduct exp5ses = : ! [n] did n pay or reimburse y4 ,^! exp5ses 9clude ! co/ ( p]sonal navig,n aids & ru2] ge>4 ,y c al deduct motor vehicle exp5ses y pd 6transport crew memb]s & 6get supplies & "ps 6use on ! boat4 ,y may 2 a# 6deduct busi;s- use-(-home exp5ses &! co/ ( travel 2t yr home &! fi%+ boat if y meet c]ta9 3di;ns4 ,= m 9=m,n1 see 8,l9e #ibha-- ,motor vehicle exp5ses0 on page #ae & 8,l9e #iide--,busi;s-use-(-home exp5ses0 on page #bb4 #gf ,%>espeople b#ad ,z a %>esp]son1 yr 9come is ! am.t y rcvd af y deduct$ all trip exp5ses f ! sale (! cat*4 ,"!=e1 y c only deduct ! exp5ses y pd = ru2] ge>1 gloves1 & knives y us$ on ! fi%+ boat4 ,y _c deduct ! co/ 6travel 2t yr home &! fi%+ boat s9ce we 3sid] ^! exp5ses 6be p]sonal4 ,note ,fi%+ boat [n]s1 capta9s1 & %>espeople _c duplicate exp5ses4 ,= example1 if ! [n] deduct$ exp5ses = fuel1 food1 & ice1 a capta9 _c deduct ! same exp5ses4 ,use (a fi%+ boat ma9ly = p]sonal use ,y may h us$ a fi%+ boat ma9ly = p]sonal use1 b "s"ts cau1 b did n rcv ! b5efits until ! next ye>4 ,if y use ! a3rual me?od 6det]m9e yr fi%+ 9come1 y c deduct ! "p (! prepd exp5ses t applies 6! ye> y rcv ! b5efit4 ,if y use ! ca% me?od = report+ yr fi%+ 9come1 y _c deduct a prepd exp5se am.t 7o!r ?an = 9v5tory7 =a tax ye> t is two or m ye>s af ! ye> y pd ! exp5se4 ,h["e1 y c deduct ! "p ( an am.t y pd 9 a previ\s ye> = b5efits rcvd 9 ! curr5t tax ye>4 ,^! am.ts >e deducti# z l;g z y h n alr deduct$ !m4 ,= example1 if y pd 4#fjj =a ?ree-ye> s]vice 3tract = (fice equip;t 9 #bjjf1 y c deduct 4#djj 9 #bjjf4 ,? #gh ,*apt] #b d#ad repres5ts ! "p (! exp5se t applies 6#bjjf & #bjjg4 ,on yr #bjjh 9come tax & b5efit return1 y cd !n deduct ! bal.e ( 4#bjj =! "p (! prepd s]vice 3tract t applies 6#bjjh4 ,grants1 cr$its1 & rebates ,subtract1 f ! applica# exp5se1 any grant1 cr$it1 or rebate y rcvd4 ,5t] ! net figure on ! appropriate l9e ( ,=m ,t#baba4 ,if ! grant1 cr$it1 or rebate is =a deprecia# asset1 subtract ! am.t y rcvd f ! asset's capital co/4 ,? mi #gi ,*apt] #b e#ad exp5se or 6reduce an asset's capital co/1 9clude ! total on ! l9e 8,grants1 cr$its1 & rebates0 9 ! 9come >ea on ,=m ,t#baba4 ,l9e #iach--,bait1 ice1 salt ,deduct ! am.t y pd = bait1 ice1 & salt us$ = yr fi%+ busi;s4 ,l9e #ijfb--,crew %>es ,5t] ! total am.t ( ea* crew memb]'s %>e (! cat*4 ,y w f9d ^! am.ts on ! trip settle;t %eets4 ,l9e #ibbd--,fuel & oil co/s ,deduct ! am.ts y pd = fuel & oil = yr fi%+ boat & equip;t4 ,if y us$ a c> or truck = yr fi%+ busi;s1 see 8,l9e #ibha --,motor vehicle exp5ses0 on page #ae4 ,! co/ ( fuel relat$ 6busi;s use ( "w space 9 yr home has 6be claim$ on #hj ,*apt] #b f#ad l9e #iide1 8,busi;s-use-(-home exp5ses40 ,= m 9=m,n1 see page #bb4 ,l9e #iacf--,ge> ,deduct ! am.t y pd = ge>4 ,? 9cludes knives1 small assort$ supplies1 gloves1 & ru2] or oilsk9 clo?+ y us$ 9 yr fi%+ busi;s4 ,l9e #hfij--,9sur.e ,deduct ! premiums y pd 69sure yr fi%+ boat & equip;t4 ,9 mo/ cases1 y _c deduct yr life 9sur.e premiums or am.ts y pd 69sure p]sonal prop]ty s* z yr home4 ,h["e1 if y us$ ! prop]ty = p]sonal use &= yr fi%+ busi;s1 y c deduct ! busi;s "p ( ^! co/s4 ,= m details1 see 8,l9e #ibha-- ,motor vehicle exp5ses0 on page #ae & 8,l9e #iide--,busi;s-use-(-home exp5ses0 on page #bb4 ,! 9sur.e co/s relat$ 6busi;s use ( "w #ha ,*apt] #b #ae space 9 yr home h 6be claim$ on l9e #iide4 ,= m 9=m,n1 see page #bb4 ,l9e #hgaj--,9t]e/ ,5t] ! total 9t]e/ y pd on m"oy y borr[$ 6e>n fi%+ 9come1 s* z 9t]e/ on a loan y us$ 6buy a fi%+ boat1 5g9e1 or ge>4 ,h["e1 d n 9clude ! 9t]e/ on m"oy y borr[$ 6buy a motor vehicle y us$ 9 yr fi%+ busi;s4 ,= m 9=m,n on ": 69clude ? am.t1 see 8,l9e #ibha--,motor vehicle exp5ses0 on ? page4 ,d n deduct ! pr9cipal "p ( loan or mortgage pay;ts4 ,al1 d n deduct 9t]e/ on m"oy y borr[$ = p]sonal purposes or 6pay ov]due 9come taxes4 ,! mortgage 9t]e/ relat$ 6busi;s use ( "w space 9 yr home has 6be claim$ on l9e #iide1 8,busi;s-use-(-home exp5ses40 ,= m 9=m,n1 see page #bb4 #hb ,l9e #hebc--,food a#ae ,! maximum am.t y c claim = food1 b"eages1 & 5t]ta9;t exp5ses is #ej@3p ( ei ! am.t y 9cur or an am.t t is r1sona# 9 ! circum/.es1 :i*"e is less4 ,h["e1 special rules c a6ect yr claim = m1ls4 ,claim ! total am.t y pd = food y /ock$ on yr boat 6fe$ yr crew :5 y fi%$ (f%ore4 ,(t51 9%ore fi%]s d n /ock food4 ,9/1d1 !y br+ m1ls f home = _! crew 2c ! trips >e %ort 7l1ve home e>ly 9 ! morn+ & -e back late 9 ! afn74 ,y c deduct ! co/ ( ^! m1ls z l;g z ! m1ls 7 a taxa# b5efit 6yr crew4 ,9 "s cases1 y c deduct ! co/ ( m1ls ev5 ?\< !y 7 n taxa# b5efits4 ,y c d ? if yr boat 0 at sea = #cf h\rs or m &! m1ls y gave 6yr crew 7 n taxa# b5efits4 ,al1 if y gave m1ls 6yr %>espeople1 g5],y ! m1ls y gave !m >e n taxa# b5efits 2c we d n 3sid] %>espeople 6be employees4 ,! #ej@3p rule applies 6all #hc ,*apt] #b b#ae self-employ$ %>espeople1 h["e1 !y may 2 limit$ 0! re/ric;n not$ abv4 ,if y ne$ m details ab taxa# b5efits1 see ,guide ,t#dacj1 ,taxa# ,b5efits4 ,al see ,9t]pret,n ,bullet9 ,,it-#ia1 ,employ;t at ,special ,"w ,sites or ,remote ,"w ,loc,ns4 ,l9e #hgfj--,lic;es ,5t] ! total co/ 6renew yr annual lic;es4 ,if y b"\ a lic;e f ano!r fi%]1 y c only deduct "p (! co/ ea* ye>4 ,= details on eligi# capital exp5ditures1 see ,*apt] #d4 ,if y b"\ a fi%+ boat &! price 9clud$ ! co/ (a lic;e1 y ne$ 6"k :at "p (! price 0 =! lic;e & :at "p 0 =! boat4 ,try 6agree on ^! am.ts )! sell]4 ,see ! example on page #ac4 #hd ,l9e #ibha--,motor vehicle c#ae exp5ses ,5t] ! total ( all yr motor vehicle exp5ses1 exclud+ ,,cca4 ,see l9e #iicf on page #bb = details on ,,cca4 ,-plete 8,*>t ;,a--,motor ,vehicle ,exp5ses10 on page #d ( ,=m ,t#baba 6help y calculate ! am.t ( motor vehicle exp5ses y c deduct4 ,! k9d ( vehicle y [n c a6ect ! exp5ses y c deduct4 ,= 9come tax purposes1 "! >e ?ree types ( vehicles3 --motor vehicles2 --automobiles2 & --pass5g] vehicles4 ,if y [n or l1se a pass5g] vehicle1 "! may 2 a limit on ! am.ts y c deduct = ,,cca1 9t]e/1 & l1s+ co/s4 ,we expla9 ! ,,cca limits on page #bb1 &! 9t]e/ & l1s+ co/s limits on page #af4 ,a .motor .vehicle is an automotive vehicle design$ or adapt$ = use on /reets or hiily 6c>ry p on /reets & hi vehicle t s1ts no m ?an ! driv] & two pass5g]s & t 9 ! tax ye> y b"\ or l1s$ x1 0 us$ m ?an #ej@3p 6transport gds or equip;t 6e>n 9come2 --a van1 pick-up truck1 or simil> vehicle t1 9 ! tax ye> y b"\ or l1s$ x1 0 us$ #ij@3p or m 6transport gds1 equip;t1 or pass5g]s 6e>n 9come2 & --a pick-up truck t1 9 ! tax ye> y b"\ or l1s$ x1 0 us$ m ?an #ej@3p 6transport gds1 equip;t1 or pass5g]s :ile e>n+ or produc+ 9come at a remote "w loc,n or at a special "w site t is at l1/ #hf ,*apt] #b e#ae #cj kilometres f ! ne>e/ -mun;y hav+ a popul,n ( at l1/ #dj1jjj p]sons4 ,a .pass5g] .vehicle is any automobile y b"\ af ,june #ag1 #aihg1 or t y l1s$ "u an agree;t y 5t]$ 9to1 or t 0 ext5d$ or renew$1 af ,june #ag1 #aihg4 ,busi;s use (a motor vehicle ,if y use yr motor vehicle = p]sonal & busi;s r1sons1 y c deduct ! "p ( yr exp5ses t 0 = fi%+ busi;s use4 ,fi%+ busi;s use 9cludes trips 6pick up "ps or supplies = yr boat1 & 6deliv] fi% 6m>kets4 ,x al 9cludes driv+ 6& f ! fi%+ boat if yr home is yr ma9 place ( busi;s4 ,6det]m9e if y use yr home z yr ma9 place ( busi;s1 see 8,l9e #iide-- ,busi;s-use-(-home exp5ses0 on page #bb4 ,keep a record (! total kilometres y drove &! kilometres y drove = busi;s use4 ,al1 keep track ( #hg ,*apt] #b #af :at x co/s y 6run & ma9ta9 ! motor vehicle =! ye>4 ,example ,amy's fi%+ busi;s has a ,decemb] #ca ye>-5d4 ,%e [n$ a truck t 0 n a pass5g] vehicle4 ,%e us$ ! truck 6c>ry nets & o!r equip;t4 ,amy wrote d[n ! foll[+ = #bjjf3 ,fi%+ busi;s kilometres """ #bg1jjj km ,total kilometres """"""""" #cj1jjj km ,exp5ses3 ,gasol9e & oil """"""""""""""" 4#c1ejj ,9t]e/ 7on loan 6buy truck7 "" 4#a1ijj ,9sur.e """""""""""""""""""""" 4#a1jjj ,lic;e & regi/r,n fees """"""""" 4#ajj ,repairs & ma9t5.e """"""""""""" 4#ejj ,total exp5ses =! truck """""" 4#g1jjj ,? is h[ ,amy calculates ! motor vehicle exp5ses %e c deduct 9 #bjjf3 #hh ,*apt] #b a#af #bg1jjj 7fi%+ busi;s kilometres7 divid$ 0#cj1jjj 7total kilometres7 multipli$ 04#g1jjj equals 4#f1cjj ,amy c deduct 4#f1cjj z motor vehicle exp5ses on l9e #ibha ( ,=m ,t#baba4 ,9t]e/ on ! m"oy y borr[ =a pass5g] vehicle ,if y use a pass5g] vehicle 6e>n fi%+ 9come1 "! is a limit on ! am.t ( 9t]e/ y c deduct4 ,:e!r y use ! ca% or a3rual me?od 6det]m9e yr 9come1 -plete 8,*>t ;,b-- ,availa# 9t]e/ exp5ses = pass5g] vehicles10 on page #d ( ,=m ,t#baba 6calculate ! am.t ( 9t]e/ y c deduct4 ,if y use yr pass5g] vehicle = bo? p]sonal & busi;s use1 -plete ! *>t 2f y det]m9e h[ m* 9t]e/ y c deduct z an exp5se4 #hi ,*apt] #b b#af ,example ,russ's fi%+ busi;s has a ,decemb] #ca ye>-5d4 ,on ,janu>y #a1 #bjjf1 he b"\ a new pass5g] vehicle t he uses = bo? p]sonal & busi;s use4 ,russ borr[$ m"oy 6buy ! vehicle1 &! 9t]e/ he pd 9 8 #bjjf fiscal p]iod 0 4#b1bjj4 ,s9ce ! c> t ,russ b"\ is a pass5g] vehicle1 "! is a limit on ! 9t]e/ he c deduct4 ,russ's availa# 9t]e/ is ei "o ( ^! two am.ts1 :i*"e is less3 --4#b1bjj 7! total 9t]e/ he pd 9 8 #bjjf fiscal p]iod72 or --4#c1fej 74#aj multipli$ 0#cfe "ds74 ,russ kept ! foll[+ records = 8 #bjjf fiscal p]iod3 ,fi%+ busi;s kilometres """ #bj1jjj km ,total kilometres """"""""" #be1jjj km #ij ,*apt] #b c#af ,exp5ses3 ,gasol9e & oil """"""""""""""" 4#b1jjj ,9t]e/ 7on loan 6buy vehicle7 """"""""""""""""""" 4#b1bjj ,9sur.e """""""""""""""""""""" 4#a1ijj ,lic;e & regi/r,n """"""""""""""" 4#fj ,repairs & ma9t5.e """"""""""" 4#a1jjj ,total vehicle exp5ses """"""" 4#g1afj ,? is h[ ,russ calculates ! motor vehicle exp5ses he c deduct 9 8 #bjjf fiscal p]iod3 #bj1jjj 7fi%+ busi;s kilometres7 divid$ 0#be1jjj 7total kilometres7 multipli$ 04#g1afj equals 4#e1gbh ,russ c deduct 4#e1gbh z motor vehicle exp5ses = 8 #bjjf fiscal p]iod4 ,l1s+ co/s =a pass5g] vehicle ,:5 y use a pass5g] vehicle 6e>n 9come1 "! is a limit on ! am.t (! #ia ,*apt] #b d#af l1s+ co/s y c deduct4 ,6calculate yr eligi# l1s+ co/s1 -plete 8,*>t ;,c-- ,eligi# l1s+ co/s = pass5g] vehicles0 on page #d ( ,=m ,t#baba4 ,! l1se agree;t = yr pass5g] vehicle may 9clude items s* z 9sur.e1 ma9t5.e1 & taxes4 ,9 ? case1 9clude !m z "p (! l1se *>ges on l9e #a :5 y -plete ,*>t ;,c4 ,note ,g5],y1 l1ses 9clude taxes 7,,gst & ,,pst1 or ,,hst71 b n items s* z 9sur.e & ma9t5.e4 ,y h 6pay ^! am.ts sep>ately4 ,9clude ! taxes on l9e #a :5 y -plete ,*>t ;,c1 & li/ ! items s* z 9sur.e & ma9t5.e on ! appropriate l9es ( 8,*>t ;,a--,motor vehicle exp5ses40 -------------------------------------#ag ,/>t \tl9e ,on ,july #a1 #bjjf1 ! ,,gst rate 0 reduc$ f #g@3p 6#f@3p1 &! ,,hst rate f #ae@3p 6#ad@3p4 ,! rate t y %d use 6-plete 8,*>t ;,c--,eligi# #ib ,*apt] #b a#ag l1s+ co/s = pass5g] vehicles0 on page #d ( ,=m ,t#baba is ! rate t 0 9 e6ect at ! 2g9n+ ( ea* l1se 9t]val4 ,! ,,gst rate = any l1se 9t]val 2g9n+ 2f ,july #a1 #bjjf1 w 2 #g@3p &! ,,hst rate w 2 #ae@3p4 ,! ,,gst rate = any l1se 9t]val 2g9n+ af ,june #cj1 #bjjf1 w 2 #f@3p &! ,,hst rate w 2 #ad@3p4 ,if y 7 mak+ mon?ly l1se pay;ts1 ea* l1se 9t]val wd 2 a mon?4 ,6calculate yr eligi# l1s+ co/s1 use ! foll[+ guidel9es3 --,if y 5t]$ 96yr l1se agree;t 2f ,janu>y #a1 #bjjf1 & x did n t]m9ate dur+ #bjjf1 use a ,,gst rate ( #f.e@3p or ,,hst rate ( #ad.e@3p 6-plete ,*>t ;,c4 --,if y 5t]$ 96yr l1se agree;t af ,june #cj1 #bjjf1 use a ,,gst rate ( #f@3p or ,,hst rate ( #ad@3p 6-plete ,*>t ;,c4 --,if .ei (! foll[+ two 3di;ns applies1 y w ne$ 6-plete ,*>t #ic ,*apt] #b b#ag ;,c twice--once =! "p ( #bjjf 6: a ,,gst rate ( #g@3p applies & once =! "p ( #bjjf 6: a ,,gst rate ( #f@3p applies3 --y 5t]$ 96a l1se agree;t af ,decemb] #ca1 #bjje1 & 2f ,july #a1 #bjjf1 & x did n t]m9ate2 or --y 5t]$ 96a l1se agree;t 2f ,july #a1 #bjjf1 & x t]m9at$ af ,june #cj1 #bjjf1 & 2f #bjjg4 ,5d \tl9e ,= m 9=m,n1 see ,guide ,t#djdd1 ,employ;t ,exp5ses4 ,! foll[+ example w %[ y h[ 6calculate yr eligi# l1s+ co/s4 ,use ,*>t ;,c on page #d ( ,=m ,t#baba 6help y -plete ! foll[+ example4 ,example ,on ,july #a1 #bjjf1 ,m1d[ />t$ l1s+ a c> t is a pass5g] vehicle4 ,%e us$ ! c> 6e>n fi%+ 9come4 ,h] busi;s has a ,decemb] #ca fiscal ye>-5d4 ,! #id ,*apt] #b c#ag ,,pst rate = h] prov9ce is #h@3p & ,,gst is #f@3p4 ,m1d[ 5t]$ ! foll[+ = #bjjf3 ,mon?ly l1se pay;t """"""""""""" 4#ejj ,l1se pay;ts = #bjjf """"""""" 4#c1jjj ,manufactur]'s su7e/$ li/ price """"""""""""""""""""" 4#cc1jjj ,numb] ( "ds 9 #bjjf %e l1s$ ! c> """""""""""""""""""""""""" #ahd ,,gst & ,,pst on 4#cj1jjj """" 4#d1bjj ,,gst & ,,pst on 4#ce1bid """" 4#d1ida ,,gst & ,,pst on 4#hjj """"""""" 4#aab 7#a7 ,total l1se *>ges 9curr$ 9 ,m1d['s #bjjf fiscal p]iod =! vehicle """"""""""" 4#c1jjj 7#b7 ,total l1se pay;ts deduct$ 9 fiscal p]iods 2f #bjjf =! vehicle """"""""""""""" 4#j 7#c7 ,total numb] ( "ds ! vehicle 0 l1s$ 9 #bjjf & previ\s fiscal p]iods """"""""" #ahd #ie ,*apt] #b d#ag 7#d7 ,manufactur]'s li/ price 4#cc1jjj 7#e7 ,! am.t on l9e #d or 4#dj1bce 74#ce1bid plus 4#d1ida71 :i*"e is m 4#dj1bce multipli$ 0#he@3p 4#cd1bjj 7#f7 74#iab multipli$ 0#ahd7 divid$ 0#cj """""""""""""""" 4#e1eid 7#g7 74#cd1bjj multipli$ 04#c1jjj7 divid$ 04#cd1bjj 4#c1jjj ,m1d['s eligi# l1s+ co/ is ei l9e #f or #g1 :i*"e am.t is less4 ,9 ? case1 h] all[a# claim is 4#c1jjj4 ,repay;ts & imput$ 9t]e/ ,:5 y l1se a pass5g] vehicle1 y may h a repay;t [+ 6y1 or y may h imput$ 9t]e/4 ,if ? is yr situ,n1 y w n 2 a# 6use ! *>t4 ,imput$ 9t]e/ is 9t]e/ t wd 2 [+ 6y if 9t]e/ 7 pd on m"oy deposit$ 6l1se a pass5g] vehicle4 ,y calculate imput$ #if ,*apt] #b e#ag 9t]e/ = l1s+ co/s on a pass5g] vehicle only if .all ! foll[+ apply3 --"o or m deposits 7 made =! l1s$ pass5g] vehicle2 --! deposit is1 or ! deposits >e1 refunda#2 & --! total (! deposits or ! deposits is m ?an 4#a1jjj4 ,= m 9=m,n1 see ,9t]pret,n ,bullet9 ,,it-#eba1 ,motor ,vehicle ,exp5ses ,claim$ 0,self ,employ$ ,9dividuals4 ,jo9t [n]%ip (a pass5g] vehicle ,if y & "s"o else [n or l1se ! same pass5g] vehicle1 ! limits on ,,cca1 9t]e/1 & l1s+ co/s / apply4 ,! am.t y c deduct z jo9t [n]s _c 2 m ?an ! am.t t "o p]son [n+ or l1s+ ! pass5g] vehicle cd deduct4 ,ea* ( y has 6claim exp5ses 9 propor;n 6yr %>e (! pass5g] vehicle4 #ig ,m ?an "o vehicle f#ag ,if y use m ?an "o motor vehicle = yr fi%+ busi;s1 keep a sep>ate record t %[s ! kilometres y drive = yr fi%+ busi;s1 ! total kilometres y drive1 &! co/ 6run & keep ea* vehicle4 ,calculate ea* vehicle's exp5ses sep>ately4 ,= m 9=m,n1 see ,9t]pret,n ,bullet9 ,,it-#eba1 ,motor ,vehicle ,exp5ses ,claim$ 0,self-,employ$ ,9dividuals4 ,l9e #hhaj--,(fice exp5ses ,5t] ! total am.t ( (fice exp5ses1 s* z /,n]y1 9voices1 receipt & a3.t+ books1 & any o!r op]at+ supplies4 ,l9e #iacg--,nets & traps ,nets & traps 9clude l9es1 hooks1 buoys1 an*ors1 & rad> reflectors4 ,g5],y1 y _c deduct ! 5tire co/ ( nets & traps y b"\ 9 ! ye>4 ,9/1d1 "! >e two me?ods y c use 6deduct ^! co/s4 #ih ,me?od #a--,capital co/ #ah all[.e 7,,cca7 me?od ,capitalize ! co/ ( nets & traps & claim ,,cca4 ,see ,*apt] #c = details on ,,cca4 ,me?od #b--,9v5tory me?od ,9clude 9 9v5tory ! co/ ( nets & traps & deduct ! loss 9 value1 z %[n 9 ! foll[+ example3 ,example ,value ( nets1 traps1 tw9e1 etc41 on h& at ! 5d ( yr #bjje fiscal p]iod """"""""""""""""" 4#gej .,add3 ,co/ ( nets & traps y b"\ 9 yr #bjjf fiscal p]iod """""""""" 4#bjj ,co/ ( tw9e & o!r net & trap #ii ,*apt] #b a#ah mat]ials y b"\ 9 yr #bjjf fiscal p]iod 7d n 9clude ! value ( yr [n lab\r7 """ 4#abe """" 4#cbe 99 ,subtotal """""""""""""""""""" 4#a1jge .,m9us3 ,value ( nets1 traps1 tw9e1 etc41 on h& at ! 5d ( yr #bjjf fiscal p]iod """""""""" 4#gjj 9999 ,proce$s f ! sale ( nets1 traps1 tw9e1 etc4 """"" 4#aej """"""" 4#hej ,loss on nets & traps """""""""""""""""""""""" 4#bbe 99 ,if y use ! 9v5tory me?od1 d n deduct ? am.t z an exp5se4 9999 ,! value ( nets & traps on h& is ! am.t y wd rcv if y sold !m 6ano!r fi%] :o 0 n relat$ 6y4 #ajj ,*apt] #b b#ah ,if y j />t$ fi%+1 *oose "o (! two me?ods4 ,if y h be5 fi%+ = s"eal ye>s & ea* ye> y claim ! co/ ( replac+ nets & traps1 y c keep on do+ s4 ,h["e1 y c *oose 6*ange 6ei ! ,,cca or ! 9v5tory me?od4 ,if y *oose 6d ? 9 #bjjf1 ! value ( nets & traps on h& at ! 5d ( #bjje w 2 z]o s9ce y h deduct$ _! value 9 previ\s ye>s4 ,y c *ange f ! 9v5tory me?od 6! ,,cca me?od4 ,h["e1 y _c *ange f ! ,,cca me?od 6! 9v5tory me?od4 ,l9e #hhfj--,legal1 a3.t+1 & o!r profes.nal fees ,5t] ! total ( all yr all[a# busi;s- relat$ legal1 a3.t+1 or profes.nal fees4 ,al1 y c deduct any a3.t+ or bookkeep+ fees y 9curr$ 6h "s"o keep yr books & records & prep>e yr 9come tax & b5efit return & ,,gst/,,hst return4 ,if y pd a3.t+ & legal fees 6file an app1l ag/ yr assess;t = 9come #aja ,*apt] #b c#ah tax1 ,canada ,p5.n ,plan or ,quebec ,p5.n ,plan 3tribu;ns1 or ,employ;t ,9sur.e premiums1 deduct ^! fees on l9e #bcb ( yr 9come tax & b5efit return4 ,y %d subtract any reimburse;t f ! applica# fees & 5t] ! result on l9e #bcb4 ,if y rcvd a reimburse;t 9 #bjjf = ^! types ( fees1 : y deduct$ 9 a previ\s ye>1 5t] ! am.t (! reimburse;t on l9e #acj ( yr 9come tax & b5efit return4 ,d n deduct any legal or o!r fees y pd 6buy prop]ty s* z a fi%+ boat & equip;t4 ,add ^! fees 6! capital co/ (! prop]ty4 ,= m details1 see ,9t]pret,n ,bullet9 ,,it-#ii1 ,legal & ,a3.t+ ,fees4 ,l9e #ijfj--,sal>ies1 wages1 & b5efits ,5t] ! total am.t ( gross wages y pd yr crew4 ,? 9cludes wages y pd 69dividuals = repair+ & pa9t+ ! boat1 #ajb ,*apt] #b d#ah cutt+ bait1 bait+ ! trawl1 %uck+ scallops1 h&l+ c>go1 /&+ wat*1 & s on4 ,z ! employ]1 y al 9clude 9 ? total yr %>e ( ,canada ,p5.n ,plan 7,,cpp7 or ,quebec ,p5.n ,plan 7,,qpp7 3tribu;ns1 ,employ;t ,9sur.e 7;,,ei7 premiums1 & prov9cial p>5tal 9sur.e plan premiums4 ,d n deduct ! am.ts y )held f yr employees' remun],n1 2c !y >e alr deduct$ 9 ! am.t y claim$ z wages4 ,keep a detail$ record (! am.ts y pd 6ea* employee al;g )! employee's "n1 a4ress1 & social 9sur.e numb]4 ,y c deduct ! wages y pd 6yr * z l;g z y meet .all ^! 3di;ns3 --y pd ! sal>y 9 ca% or 9 k9d2 --! "w yr * did 0 nec = y 6e>n fi%+ 9come2 & --! sal>y is r1sona# 3sid]+ yr *'s age &! am.t y wd h pd "s"o else =! same "w4 ,keep docu;ts 6support ! sal>y y pd 6yr *4 ,if y pd yr * 0*eque1 keep ! #ajc ,*apt] #b e#ah c.ell$ *eque4 ,if y pd ca%1 h yr * sign a receipt4 ,foll[+ ! same rules1 y c deduct wages y pd 6yr sp\se or -mon-law "pn] if yr sp\se or -mon-law "pn] is n a "pn] 9 yr fi%+ busi;s4 ,if y 7 a "pn] 9 a "pn]%ip t employ$ yr sp\se or -mon-law "pn]1 ! "pn]%ip c deduct yr sp\se or -mon-law "pn]'s wages if ! exp5se 0 9curr$ 6e>n fi%+ 9come &! wages 7 r1sona#4 ,y h 6-plete a ,t#d ,summ>y z well z ! relat$ ,t#d slips4 ,on ! ,t#d slips1 report ! sal>y1 wages1 & taxa# b5efits y pd 6yr employees1 *n1 or sp\se or -mon- law "pn]4 ,al %[ ! am.ts ( deduc;ns y )held4 ,= details1 see ,guide ,,rc#dabj1 ,fil+ ! ,t#d ,slip & ,summ>y4 #ajd ,l9e #hifc--,repairs #ai ,fi%+ boat ,5t] ! total am.t y pd =! g5]al repairs y ne$$ 6keep yr fi%+ boat s1wor?y4 ,! /ructural improve;ts & a4i;ns y make 6yr fi%+ boat >e capital exp5ditures4 ,y h 6add ^! exp5ditures 6! co/ (! boat4 ,? w a6ect yr ,,cca claim on ! boat4 ,= details on ,,cca1 see ,*apt] #c4 ,if y ne$ m details ab capital exp5ditures1 see ,9t]pret,n ,bullet9 ,,it-#abh1 ,capital ,co/ ,all[.e-- ,deprecia# ,prop]ty4 ,5g9e ,5t] ! total am.t y pd = all g5]al 5g9e repairs4 ,y c al deduct ! co/ ( an ov]haul4 ,h["e1 if y replac$ an 5g9e1 x is a capital exp5diture4 ,"!=e1 add ! exp5diture 6! co/ (! boat4 ,? w #aje ,*apt] #b a#ai a6ect ! ,,cca on ! boat4 ,= details on ,,cca1 see ,*apt] #c4 ,electrical equip;t ,deduct ! am.t y pay = repairs 6a loran1 s.d]1 rad>1 %ip-to-%ore radio1 fi% f9d]1 & s on4 ,l9e #ibgj--,o!r exp5ses ,y may h o!r fi%+ exp5ses t >e n %[n on ,=m ,t#baba4 ,9 ? case1 5t] ^! am.ts on ? l9e4 ,we cov] "s -mon o!r exp5ses 2l4 ,4abil;y-relat$ modific,ns made 6a build+ ,\tlays & exp5ses = eligi# 4abil;y- relat$ modific,ns made 6a build+ c 2 3sid]$ curr5t exp5ses4 ,y d n h 6add !m 6! capital co/ ( yr build+4 ,y c al deduct exp5ses y pd 69/all or get #ajf ,*apt] #b b#ai 4abil;y-relat$ modific,ns 9clud+ *anges y make 6a3ommodate :eel*airs4 ,l1s+ co/s ,deduct ! l1se pay;ts y 9curr$ 9 ! ye> = prop]ty us$ 9 yr fi%+ busi;s4 ,if y l1s$ a pass5g] vehicle1 see 8,l9e #ibha --,motor vehicle exp5ses0 on page #ae4 ,if y 5t]$ a l1se agree;t af ,april #bf1 #aihi1 y c *oose 6tr1t yr l1se pay;ts z -b9$ pay;ts ( pr9cipal & 9t]e/4 ,h["e1 y &! p]son y >e l1s+ f h 6agree 6tr1t ! pay;ts ? way4 ,9 ? case1 we 3sid] t y3 --b"\ ! prop]ty r ?an l1s$ x2 & --borr[$ an am.t equal 6! fair m>ket value 7,,fmv7 (! l1s$ prop]ty4 ,we def9e .fair .m>ket .value on page #bd4 ,y c deduct ! 9t]e/ "p (! pay;t z an exp5se4 ,y c al claim ,,cca on ! prop]ty4 ,= details on ,,cca1 see ,*apt] #c4 #ajg ,*apt] #b c#ai ,y c make ? *oice z l;g z ! prop]ty qualifies &! total ,,fmv ( all ! prop]ty subject 6! l1se is m ?an 4#be1jjj4 ,= example1 a fi%+ boat y l1s$ ) an ,,fmv ( 4#ce1jjj qualifies4 ,h["e1 (fice furniture & automobiles (t5 d n4 ,6tr1t yr l1se ? way1 -plete ."o (! foll[+ =ms & file x ) yr 9come tax & b5efit return =! ye> y make ! l1se agree;t3 --,t#bade1 ,elec;n 9 ,respect (! ,l1s+ ( ,prop]ty2 or --,t#badf1 ,elec;n 9 ,respect ( ,assign$ ,l1ses or ,subl1s$ ,prop]ty4 ,adv]tis+ ,deduct ! co/ ( adv]tis+ y 9cur = yr fi%+ busi;s4 #ajh ,teleph"o d#ai ,d n deduct ! basic mon?ly rate ( yr home teleph"o4 ,h["e1 y c deduct any l;g-4t.e teleph"o calls y made = yr fi%+ busi;s4 ,if y h a sep>ate teleph"o 6use 9 yr fi%+ busi;s & y us$ x = busi;s calls only1 y c deduct xs basic mon?ly rate4 ,-put] & o!r equip;t l1s+ co/s ,if y l1se -put]s1 cellul> teleph"os1 fax ma*9es1 & o!r equip;t1 y c deduct ! p]c5tage (! l1se co/s t r1sonably relates 6e>n+ yr fi%+ 9come4 ,y c al deduct ! p]c5tage ( air-"t exp5ses =a cellul> teleph"o t r1sonably relates 6e>n+ yr fi%+ 9come4 ,if y buy a -put]1 cellul> teleph"o1 fax ma*9e1 or o!r s* equip;t1 y _c deduct ! co/4 ,y c deduct ,,cca & 9t]e/ y pd on m"oy y borr[$ 6buy ? equip;t t #aji ,*apt] #b e#ai r1sonably relates 6e>n+ yr fi%+ 9come4 ,= m 9=m,n on ,,cca1 see ,*apt] #c4 ,frei is m ?an #ej@3p ( yr .total .9come 991 or yr ..9come f s\rces o!r ?an .self- employ;t 9999 is 4#aj1jjj or less1 =! curr5t or previ\s ye>2 #aaj ,*apt] #b f#ai --y >e actively 5gag$ 9 yr fi%+ busi;s on a regul> & 3t9u\s basis1 9dividu,y or z a "pn]2 & --! premiums >e pd 69sure yrf1 yr sp\se or -mon-law "pn]1 or any memb] ( yr h\sehold4 99 ,=! purposes ( ? claim1 calculate yr .total .9come z foll[s3 --! am.t f l9e #aej ( yr #bjje or #bjjf 9come tax & b5efit return1 :i*"e applies1 2f y deduct any am.ts = ,,phsp's2 .m9us -------------------------------------#bj --! am.ts y 5t]$ on l9es #bjg1 #bab1 #bag1 #bba1 #bbi1 #bca1 & #bcb on yr #bjje or #bjjf 9come tax & b5efit return1 :i*"e apply4 9999 ,=! purposes ( ? claim1 calculate yr ..9come f s\rces o!r ?an .self- employ;t z foll[s3 --! am.t f l9e #aej ( yr #bjje or #bjjf 9come tax & b5efit return1 #aaa ,*apt] #b a#bj :i*"e applies1 2f y deduct any am.ts = ,,phsp's2 .m9us --! am.ts y 5t]$ on l9es #ace1 #acg1 #aci1 #ada1 #adc 7exclud+ busi;s losses : reduc$ ! net am.t report$ on ^? l9es71 #bjg1 #bab1 #bag1 #bba1 #bbi1 #bca1 & #bcb on yr #bjje or #bjjf 9come tax & b5efit return1 :i*"e apply4 ,y _c claim a deduc;n = ,,phsp premiums if ano!r p]son deduct$ ! am.t1 or if y or any"o else claim$ ! premiums z a m$ical exp5se4 ,= yr premiums 6be deducti#1 yr ,,phsp cov]age has 6be pd "u a 3tract ) "o (! foll[+3 --an 9sur.e -pany2 --a tru/ -pany2 --a p]son or "pn]%ip 9 ! busi;s ( adm9i/]+ ,,phsp's2 --a tax-exempt trade union ( : y or ! major;y ( yr employees >e memb]s2 or #aab ,*apt] #b b#bj --a tax-exempt busi;s organiz,n or a tax-exempt profes.nal organiz,n ( : y >e a memb]4 ,= m 9=m,n on ,,phsp1 see ,9t]pret,n ,bullet9 ,,it-#cci1 ,m1n+ ( ,private ,h1l? ,s]vices ,plan 7#aihh & subsequ5t tax,n ye>s74 ,note ,9 a co/-plus plan1 ! plan w only qualify z a ,,phsp if "! is at l1/ "o employee4 ,= example1 a co/-plus plan t provides cov]age =a sole proprietor & h\sehold memb]s :o >e n employees w n qualify z a ,,phsp s9ce x is n an 9sur.e plan4 ,def9i;ns ,=! purposes ( ? claim1 ! foll[+ def9i;ns apply3 --.,qualifi$ .employees >e >m's l5g?1 full-"t employees :o h ?ree mon?s s]vice s9ce !y la/ 2came #aac ,*apt] #b c#bj employ$ )a busi;s c>ri$ on 0y1 )a busi;s 9 : y >e a major;y 9t]e/ "pn]1 or )a busi;s c>ri$ on 0a corpor,n a6iliat$ ) y4 ,tempor>y or s1sonal "w]s >e n qualifi$ employees4 --.,>m's .l5g? .employees >e g5],y employees :o >e n relat$ 6y & :o >e n c>ry+ on busi;s ) y1 = example1 z yr "pn]s4 ,see ! def9i;n ( 8,non- >m's l5g? transac;ns0 on page #bd4 --.,9sura# .p]sons >e p 6:om cov]age is ext5d$ & :o >e ei3 --qualifi$ employees2 --p :o wd 2 qualifi$ employees if !y _h "w$ = y = ?ree mon?s2 or --p c>ry+ on yr busi;s 79clud+ yrf & yr "pn]s74 ,h[ 6calculate yr maximum deduc;n = ,,phsp's ,! foll[+ sec;ns expla9 h[ 6calculate yr maximum ,,phsp deduc;n bas$ on #aad ,*apt] #b d#bj :e!r y _h employees & :e!r y 9sur$ !m "?\t ! ye> or "p (! ye>4 ,f9d ! sec;n t describes yr situ,n4 ,if y did n h any employees "?\t #bjjf ,yr ,,phsp deduc;n is re/rict$ 0a doll> limit on an annual basis4 ,! limit is a maximum (3 --4#a1ejj = yrf2 --4#a1ejj = yr sp\se or -mon-law "pn] & h\sehold memb]s :o 7 #ah ye>s ( age or old] at ! />t (! p]iod :5 !y 7 9sur$2 & --4#gej = h\sehold memb]s "u ! age ( #ah at ! />t (! p]iod4 ,! maximum deduc;n is al limit$ 0! numb] ( "ds ! p]son 0 9sur$4 ,calculate yr all[a# maximum =! ye> 0us+ ! foll[+ =mula3 #aae ,*apt] #b e#bj ;,a divid$ 0#cfe multipli$ by 7;,b plus ;,c71 ":3 ;,a is ! numb] ( "ds dur+ ! p]iod (! ye> :5 y 9sur$ yrf & h\sehold memb]s1 if applica#1 b 9sur$ less ?an #ej@3p ( yr employees2 ;,b equals 4#a1ejj multipli$ 0! numb] ( h\sehold memb]s #ah & ov] 9sur$ dur+ t p]iod2 & ;,c equals 4#gej multipli$ 0! numb] ( h\sehold memb]s "u ! age ( #ah 9sur$ dur+ t p]iod4 ,example #a ,$w9 0 a sole proprietor :o ran 8 busi;s al"o 9 #bjjf4 ,he _h no employees & did n 9sure any ( 8 h\sehold memb]s4 ,$w9 pd 4#b1jjj = ,,phsp cov]age 9 #bjjf4 ,9 8 case1 ! cov]age la/$ f ,july #a 6,decemb] #ca1 #bjjf 7a total ( #ahc "ds74 ,$w9's maximum all[a# ,,phsp deduc;n is calculat$ z foll[s3 #aaf ,*apt] #b f#bj #ahc divid$ 0#cfe multipli$ 04#a1ejj equals 4#geb ,ev5 ?\< ,$w9 pd 4#b1jjj 9 premiums 9 #bjjf1 he c only deduct 4#geb1 2c ! annual limit is 4#a1ejj & he 0 only 9sur$ = ab half (! ye>4 ,if he _h be5 9sur$ =! 5tire ye>1 8 deduc;n limit wd 2 4#a1ejj4 ,example #b ,bruce 0 a sole proprietor :o ran 8 busi;s al"o 9 #bjjf4 ,he _h no employees4 ,f ,janu>y #a 6,decemb] #ca1 he 9sur$ hmf1 8 wife1 & 8 two sons4 ,bruce pd 4#a1hjj 69sure hmf1 4#a1hjj 69sure 8 wife1 & 4#a1jjj = ea* ( 8 sons4 ,"o ( 8 sons 0 #ae ye>s old &! o!r turn$ #ah on ,septemb] #a4 ,bruce's ,,phsp deduc;n is limit$ 6! foll[+ am.ts3 #aag ,*apt] #b g#bj --= hmf--4#a1ejj2 -------------------------------------#ba --= 8 wife--4#a1ejj2 --= 8 #ae-ye>-old son--4#gej2 & --=! son :o turn$ #ah--4#gej4 ,! 4#gej limit applies 2c he did n turn #ah until af ! 9sur$ p]iod 2gan4 ,if y _h employees "?\t #bjjf ,if y _h at l1/ "o qualifi$ employee "?\t all ( #bjjf & at l1/ #ej@3p (! 9sura# p]sons 9 yr busi;s 7 qualifi$ employees1 yr claim = ,,phsp premiums is limit$ 9 a di6]5t way4 ,yr limit is bas$ on ! l[e/ co/ ( .equival5t .cov]age = ea* ( yr qualifi$ employees4 ,see ! def9i;n ( .qualifi$ .employees on page #bj4 ,use ! foll[+ /eps 6calculate yr maximum all[a# claim =! ,,phsp premiums pd = yrf1 yr sp\se or -mon-law "pn]1 & yr h\sehold memb]s4 #aah ,*apt] #b a#ba ,= ea* ( yr qualifi$ employees1 d ! foll[+ calcul,n3 ;,x multipli$ 0;,y equals ;,z1 ":3 ;,x equals ! am.t y wd pay 6provide yrf1 yr sp\se or -mon-law "pn]1 & yr h\sehold memb]s ) cov]age equival5t 6t provid$ 6a "picul> employee1 8 or h] sp\se or -mon-law "pn]1 & h\sehold memb]s2 ;,y equals ! p]c5tage (! premium y pay = t "picul> employee2 & ;,z equals yr limit bas$ on t "picul> employee4 ,example ,y h "o qualifi$ employee4 ,6provide yrf ) cov]age equival5t 6his1 y pay a premium ( 4#a1hjj4 ,y pay #fj@3p ( yr employee's premium4 ,yr deduc;n limit = yrf is 4#a1jhj1 calculat$ z foll[s3 #aai ,*apt] #b b#ba 4#a1hjj 7am.t ;,x7 multipli$ 0#fj@3p 7am.t ;,y7 equals 4#a1jhj 7am.t ;,z74 ,! maximum y c claim is 4#a1jhj if y _h only "o qualifi$ employee4 ,if y _h m ?an "o qualifi$ employee1 y h 6d ! ;,x multipli$ 0;,y equals ;,z calcul,n = ea* employee4 ,yr limit is !n ! l1/ am.t y calculate = ea* employee4 ,example ,y h ?ree qualifi$ employees1 ,jack1 ,jill1 & ,sue4 ,! foll[+ ta# %[s h[ m* y wd pay = cov]age equival5t 6ea* ( _!s1 &! p]c5tage ( ea* employee's premium t y pay4 #abj ,*apt] #b c#ba ,transcrib]'s note3 7,! foll[+ is set up 9 ?ree columns3 ,column #a3 ,"n ( employee ,column #b3 ,co/ ( equival5t cov]age = yrf ,column #c3 @3p (! employee's premium y pay7 ,"n ( employee3 ,jack ,co/ ( equival5t cov]age = yrf3 4#a1ejj @3p (! employee's premium y pay3 #bj@3p ,"n ( employee3 ,jill ,co/ ( equival5t cov]age = yrf3 4#a1hjj @3p (! employee's premium y pay3 #ej@3p ,"n ( employee3 ,sue ,co/ ( equival5t cov]age = yrf3 4#a1djj @3p (! employee's premium y pay3 #dj@3p ,y h 6d ?ree calcul,ns3 ,= ,jack3 4#a1ejj multipli$ 0#bj@3p equals 4#cjj #aba ,*apt] #b d#ba ,= ,jill3 4#a1hjj multipli$ 0#ej@3p equals 4#ijj ,= ,sue3 4#a1djj multipli$ 0#dj@3p equals 4#efj ,yr limit is 4#cjj : is ! l1/ (! am.ts calculat$ =! ?ree employees4 ,note ,if y h a qualifi$ employee ) no cov]age1 y _c claim yr ,,phsp premiums z a deduc;n f self-employ;t 9come4 ,h["e1 y may 2 a# 6claim !m z m$ical exp5ses4 ,if y _h employees "?\t #bjjf1 b ! numb] ( .>m's .l5g? employees y 9sur$ 0 less ?an #ej@3p ( all ! 9sura# p]sons 9 yr busi;s1 yr maximum all[a# deduc;n is ! .less] (! foll[+ two am.ts3 ,am.t #a ,det]m9e ? am.t 0us+ ! foll[+ =mula3 #abb ,*apt] #b e#ba ;,a divid$ 0#cfe multipli$ by 7;,b plus ;,c71 ":3 ;,a is ! numb] ( "ds dur+ ! p]iod (! ye> :5 y 9sur$ yrf & h\sehold memb]s1 if applica#1 b 9sur$ less ?an #ej@3p ( yr employees2 ;,b equals 4#a1ejj multipli$ 0! numb] ( h\sehold memb]s #ah ye>s ( age or old] 9sur$ dur+ t p]iod2 & ;,c equals 4#gej multipli$ 0! numb] ( h\sehold memb]s "u ! age ( #ah 9sur$ dur+ t p]iod4 ,am.t #b ,if y _h at l1/ "o qualifi$ employee1 am.t #b is ! l[e/ co/ ( equival5t cov]age = ea* qualifi$ employee1 calculat$ 0us+ ! ;,x multipli$ 0;,y equals ;,z =mula on ? page4 ,if y did n h at l1/ "o qualifi$ employee1 ! limit 9 am.t #a w apply4 #abc ,if y _h employees = "p (! f#ba ye> ,=! "p (! ye> :5 y _h at l1/ "o qualifi$ employee & yr 9sura# >m's l5g? employees repres5t$ at l1/ #ej@3p ( all ! 9sura# p]sons 9 yr busi;s1 calculate yr limit .= .t .p]iod ! same way z 9 ! previ\s sec;n 8,if y _h employees "?\t #bjjf40 ..,=! rema9d] (! .ye> :5 y _h no employees or :5 yr 9sura# >m's l5g? employees repres5t$ less ?an #ej@3p ( all (! 9sura# p]sons 9 yr busi;s1 yr deduc;n limit = t rema9+ p]iod is ! .less] (! foll[+ two am.ts3 ,am.t #a ,det]m9e ? am.t 0us+ ! foll[+ =mula3 ;,a divid$ 0#cfe multipli$ by 7;,b plus ;,c71 ":3 ;,a is ! numb] ( "ds dur+ ! p]iod (! ye> :5 y 9sur$ yrf & h\sehold #abd ,*apt] #b g#ba memb]s1 if applica#1 b 9sur$ less ?an #ej@3p ( yr employees2 -------------------------------------#bb ;,b equals 4#a1ejj multipli$ 0! numb] ( h\sehold memb]s #ah ye>s ( age or old] 9sur$ dur+ t p]iod2 & ;,c equals 4#gej multipli$ 0! numb] ( h\sehold memb]s "u ! age ( #ah 9sur$ dur+ t p]iod4 ,am.t #b ,if y _h at l1/ "o qualifi$ employee1 am.t #b is ! l[e/ co/ ( equival5t cov]age = ea* qualifi$ employee1 calculat$ 0us+ ! ;,x multipli$ 0;,y equals ;,z =mula on page #ba4 ,if y did n h at l1/ "o qualifi$ employee1 ! am.t #a limit w apply4 ,undeduct$ premiums ,if y deduct only a "p ( yr ,,phsp premium at l9e #ibgj1 & y pd ! premium 9 ! ye>1 y c 9clude ! undeduct$ #abe ,*apt] #b a#bb bal.e 9 ! calcul,n ( yr non-refunda# m$ical exp5se tax cr$it4 ,= details1 see 8,l9e #ccj0 9 ! ,g5]al ,9come ,tax & ,b5efit ,guide4 ,l9e #iicf--,capital co/ all[.e 7,,cca7 ,5t] ! total am.t ( ,,cca y calculate on all ! eligi# assets y us$ 9 yr fi%+ op],n4 ,6calculate yr ,,cca claim1 use ! *>ts on pages #b & #c ( ,=m ,t#baba4 ,see ,*apt] #c = details on h[ 6-plete ^! *>ts4 ,l9e #iice--,all[.e on eligi# capital prop]ty ,we expla9 h[ 6det]m9e ? all[.e 9 ,*apt] #d4 #abf ,l9e #icfi--,net 9come b#bb 7loss7 2f adju/;ts ,5t] on ? l9e ! gross 9come m9us ! deducti# exp5ses4 ,if y >e a "pn] 9 a "pn]%ip1 ? am.t is ! net fi%+ 9come ( all "pn]s4 ,if y h a loss1 5t] ! am.t 9 brackets4 ,on l9e ;c1 5t] yr %>e ( l9e #icfi4 ,? is ! am.t left af y subtract ! am.ts ! o!r "pn]s >e responsi# = report+ z specifi$ 9 ! "pn]%ip agree;t4 ,9 ! *>t 8,details ( o!r "pn]s0 on page #c ( ,=m ,t#baba1 %[ ! full "ns & a4resses (! o!r "pn]s1 z well z a br1kd[n ( _! %>es (! 9come & _! p]c5tages (! "pn]%ip4 ,l9e #iidc--,o!r am.ts deducti# f yr %>e ( net "pn]%ip 9come 7loss7 ,5t] ! total ( any extra exp5ses y 9curr$ 6e>n yr %>e ( "pn]%ip 9come = : ! "pn]%ip did n repay y4 ,= 9/.e1 y may use yr automobile =! "pn]%ip #abg ,*apt] #b c#bb busi;s4 ,:5 y d ?1 y c deduct "p ( yr motor vehicle exp5ses4 ,h["e1 y m/ n h claim$ ^! exp5ses any": else on ,=m ,t#baba4 ,-plete ! *>t 8,o!r am.ts deducti# f yr %>e (! net "pn]%ip 9come 7loss70 on page #b ( ,=m ,t#baba 6li/ ^! am.ts4 ,l9e #iide--,busi;s-use-(-home exp5ses ,y c deduct exp5ses = us+ a "w space 9 yr home = busi;s1 z l;g z y meet ."o ( ^! 3di;ns3 --x is yr ma9 place ( busi;s2 or --y use ! space only 6e>n yr fi%+ busi;s 9come1 & y use x on a regul> & ongo+ basis 6meet yr cu/om]s4 ,y c deduct "p ( yr ma9t5.e co/s1 s* z h1t+1 home 9sur.e1 electric;y1 & cl1n+ mat]ials4 ,y c al deduct "p ( yr prop]ty taxes1 mortgage 9t]e/1 & ,,cca4 ,6calculate ! "p y c deduct1 use #abh ,*apt] #b d#bb a r1sona# basis1 s* z ! >ea (! "w space divid$ 0! total >ea ( yr home4 ,if y use "p ( yr home = bo? yr busi;s & p]sonal liv+1 calculate h[ _m h\rs 9 ! "d y use ! rooms = yr busi;s1 !n divide t am.t 0#bd h\rs4 ,multiply ! result 0! busi;s "p ( yr total home exp5ses4 ,? w give y ! h\sehold co/ y c deduct4 ,if y run ! busi;s = only "p (! week or ye>1 reduce yr claim acly4 ,example ,monique runs a fi%+ busi;s f h] home week"ds f #g a4m4 6#e p4m4 7#aj h\rs \ (a #bd-h\r "d47 ,! busi;s uses an >ea ( #ce squ>e metres4 ,! h\se is #ajj squ>e metres1 &! annual h\sehold exp5ses >e 4#e1hjj4 #abi ,*apt] #b e#bb ,! calcul,n is z foll[s3 #aj ov] #bd .h\rs multipli$ 0#ce ov] #ajj .metres multipli$ 04#e1hjj .exp5ses equals 4#hde.hc ,! busi;s op]ates five "ds a week1 s ,monique has 6d ano!r calcul,n3 4#hde.hc multipli$ 0#e ov] #g ."ds equals 4#fjd.af ,monique c deduct a total ( 4#fjd.af = h\sehold exp5ses4 ,! capital ga9 & recapture rules w apply if y deduct ,,cca on ! busi;s-use "p ( yr home & y lat] sell yr home4 ,= details on recapture ( ,,cca1 see ,*apt] #c4 ,= 9=m,n on capital ga9s1 see ,guide ,t#djcg1 ,capital ,ga9s4 ,if y r5t yr home1 y c deduct ! "p (! r5t & any exp5ses y 9cur t relate 6! "w space4 #acj ,*apt] #b f#bb ,! am.t y c deduct = busi;s-use-(-home exp5ses _c 2 m ?an yr net 9come f ! fi%+ busi;s 2f y deduct ^! exp5ses4 ,9 o!r ^ws1 y _c use ^! exp5ses 69cr1se or cr1te a busi;s loss4 ,y c deduct ! .less] (! foll[+ am.ts3 --any am.t y c>ry =w>d f yr #bjje fiscal p]iod1 plus ! busi;s-use-(- home exp5ses y 9cur 9 yr #bjjf fiscal p]iod2 or --! 9come am.t on l9e ;e on page #a ( ,=m ,t#baba4 -------------------------------------#bc ,9 yr next fiscal p]iod1 y c use any exp5se y cd n deduct 9 yr #bjjf fiscal p]iod1 z l;g z y meet "o (! two previ\s 3di;ns4 ,y al use ! same rules4 ,6calculate yr all[a# claim = busi;s- use-(-home exp5ses1 use ! *>t 8,calcul,n ( busi;s-use-(-home exp5ses0 on page #b ( ,=m ,t#baba4 ,! exp5ses y claim on l9e #iide m/ n h be5 claim$ else": on ,=m ,t#baba4 #aca ,*apt] #b a#bc ,= m details1 see ,9t]pret,n ,bullet9 ,,it-#ead1 ,"w ,space 9 ,home ,exp5ses4 ,l9e #iidf--,yr net 9come 7loss7 ,5t] yr net fi%+ 9come or loss on l9e #adc ( yr 9come tax & b5efit return4 ,if y h a loss1 5t] ! am.t 9 brackets4 ,details ( equ;y 7..page #b ( ,=m .,t#baba7 ,if y >e a "pn] 9 a "pn]%ip t .has 6file a "pn]%ip 9=m,n return1 d n -plete ? sec;n4 #acb ,l9e #iica--,total busi;s b#bc liabilities ,a liabil;y is a debt or oblig,n (a busi;s4 8,total busi;s liabilities0 is ! total ( all am.ts yr fi%+ busi;s [es at ! 5d ( xs fiscal p]iod4 ,? 9cludes3 --a3.ts paya#2 --notes paya#2 --9come taxes & taxes paya#2 --unpd sal>ies1 wages1 & b5efits2 --9t]e/ paya#2 --def]r$ or une>n$ rev5ues2 --loans paya#2 --mortgages paya#2 & --any o!r \t/&+ bal.e relat$ 6! busi;s4 ,l9e #iicb--,draw+s 9 #bjjf ,a draw+ is any )drawal ( ca% 79clud+ sal>ies71 o!r assets1 or s]vices (a busi;s 0! proprietor or "pn]s4 ,? 9cludes s* transac;ns 0! proprietor or "pn]s 7or family memb]s7 z )draw+ #acc ,*apt] #b c#bc ca% = non-busi;s use1 & us+ busi;s assets & s]vices = p]sonal use4 ,9clude ! co/ or value ( p]sonal use ( busi;s assets or s]vices 9 yr draw+s =! ye>4 ,l9e #iicc--,capital 3tribu;ns 9 #bjjf ,a capital 3tribu;n is an a4i;n ( ca% or o!r assets 6! fi%+ busi;s y made dur+ xs fiscal p]iod4 ,? 9cludes a4+ p]sonal funds 6! busi;s a3.t1 pay+ busi;s debts ) p]sonal funds1 & transf]r+ p]sonal assets 6! fi%+ busi;s4 ,details ( o!r "pn]s 7..page #c ( ,=m .,t#baba7 ,if y >e a "pn] 9 a "pn]%ip t does .n h 6file a "pn]%ip 9=m,n return 7see ,*apt] #a = ^! require;ts71 y c -plete ! *>t 8,details ( o!r "pn]s0 on page #c on yr ,=m ,t#baba4 #acd ,*apt] #b d#bc ,if y >e a "pn] 9 a "pn]%ip t .has 6file a "pn]%ip 9=m,n return1 y d n h 6-plete ? *>t4 #ace e#bc #acf ,*apt] #c--,capital co/ f#bc all[.e 7,,cca7 ,:at is ,,cca8 ,y mi4 ,h["e1 s9ce ^! prop]ties we> \ or 2come \tdat$ ov] "t1 y c deduct _! co/ ov] a p]iod ( s"eal ye>s4 ,! deduc;n = ? is call$ ,,cca4 ,def9i;ns ,6calculate yr ,,cca claim1 y w ne$ 6"k ! m1n+ (! foll[+ t]ms4 ,adju/$ co/ base 7,,acb7 ,! ,,acb is usu,y ! co/ (a prop]ty plus any exp5ses 6acquire x1 s* z -mis.ns & legal fees4 #acg ,availa# = use g#bc ,y c usu,y claim ,,cca on a prop]ty only :5 x 2comes availa# = use4 ..,prop]ty o!r ?an a .build+ usu,y 2comes availa# = use on :i*"e is e>lie/3 --! date y f/ use x 6e>n 9come2 --! second tax ye> af ! ye> 9 : y acquir$ ! prop]ty2 --! date x is deliv]$ or made availa# 6y & is capa# ( p]=m+ ! func;n = : y acquir$ x2 --in ! case (a vessel1 ! date :5 all p]mits1 c]tificates1 or lic;es ne$$ 0law >e obta9$2 or --! "t j 2f y 4pose (! prop]ty4 ,example ,if y buy an electric motor &! sell] deliv]s x 6y 9 yr #bjjf fiscal p]iod1 b x 0 n 9 "w+ ord] until yr #bjjg fiscal p]iod1 y _c claim ,,cca on x until #bjjg4 ,h["e1 if y buy an electric motor &! sell] deliv]s x 6y 9 "w+ ord] 9 yr #bjjf fiscal #ach ,*apt] #c h#bc p]iod1 b y did n use x until yr #bjjg fiscal p]iod1 y c / claim ,,cca 9 #bjjf 2c x 0 availa# = use4 -------------------------------------#bd ,a .build+1 or .."p (a .build+1 usu,y 2comes availa# = use on :i*"e is e>lie/3 --! date y />t us+ #ij@3p or m (! build+ 9 yr busi;s2 --! second tax ye> af ! ye> 9 : y acquir$ ! build+2 or --! "t j 2f y 4pose (! build+4 ,a build+ t y ..b"\ or >e 3/ruct+1 r5ovat+1 or .alt]+ usu,y 2comes availa# = use on :i*"e is e>lie/3 --! date y -plete ! 3/ruc;n1 r5ov,n1 or alt],n2 --! date y />t us+ #ij@3p or m (! build+ 9 yr busi;s2 --! second tax ye> af ! ye> 9 : y acquir$ ! build+2 or --! "t j 2f y 4pose (! build+4 #aci ,capital co/ a#bd ,? is ! am.t on : y f/ claim ,,cca4 ,! capital co/ (a deprecia# prop]ty is usu,y ! total (3 --! pur*ase price 7n 9clud+ ! co/ ( l&1 : is usu,y n deprecia#--see 8,l&0 on page #bf72 --! "p ( yr legal1 a3.t+1 5g9e]+1 9/all,n1 & o!r fees t relates 6! pur*ase or 3/ruc;n (! deprecia# prop]ty 7n 9clud+ ! "p t applies 6l&72 --! co/ ( any a4i;ns or improve;ts y made 6! deprecia# prop]ty af y got x if y h n claim$ ^! co/s z a curr5t exp5se2 & --s(t co/s 7s* z 9t]e/1 legal & a3.t+ fees1 & prop]ty taxes7 relat$ 6! p]iod y >e 3/ruct+1 r5ovat+1 or alt]+ ! build+ if y h n claim$ ^! co/s z curr5t exp5ses4 #adj ,deprecia# prop]ty b#bd ,? is any prop]ty on : y c claim ,,cca4 ,y usu,y gr\p deprecia# prop]ties 96classes4 ,= example1 pumps1 ice ma*9es1 & tools t co/ 4#bjj or m 74#ejj af ,may #a1 #bjjf1 z propos$7 2l;g 6,class #h4 ,y h 6base yr ,,cca claim on a rate assign$ 6ea* class ( prop]ty4 ,fair m>ket value 7,,fmv7 ,,fmv is g5],y ! hi value y c get = yr prop]ty 9 an op5 & unre/rict$ m>ket 2t an 9=m$ & will+ buy] & an 9=m$ & will+ sell] :o d1l at >m's l5g? ) ea* o!r4 ,non->m's l5g? transac;n ,a non->m's l5g? transac;n 9cludes a transac;n 2t "pies :o >e relat$1 s* z memb]s (a family4 ,an example (a non- #ada ,*apt] #c c#bd >m's l5g? transac;n wd 2 ! sale ( prop]ty 2t a husb& & wife or a p>5t & *4 ,proce$s ( 4posi;n ,proce$s ( 4posi;n g5],y m1ns ! sale price (a prop]ty4 ,usu,y ! proce$s ( 4posi;n >e ! am.ts y rcv1 or t we 3sid] y 6h rcvd1 :5 y 4pose ( yr prop]ty4 ,? cd 9clude -p5s,n y rcv = prop]ty t "s"o de/roys1 expropriates1 /1ls1 or damages4 ,special rules may apply if y 4pose (a build+ = less ?an bo? xs undepreciat$ capital co/ & yr capital co/4 ,if ? is ! case1 see 8,special rules = 4pos+ (a build+ 9 ! ye>0 on page #ca = details4 ,= m details ab proce$s ( 4posi;n1 see ,9t]pret,n ,bullet9s ,,it-#bbj1 ,capital ,co/ ,all[.e--,proce$s ( ,4posi;n ( ,deprecia# ,prop]ty1 & xs ,special ,rel1se1 & ,,it-#bhe1 ,capital ,co/ ,all[.e--,g5]al ,-;ts4 #adb ,undepreciat$ capital co/ d#bd 7,,ucc7 ,g5],y1 ! ,,ucc is ! am.t left af y deduct ,,cca f ! capital co/ (a deprecia# prop]ty4 ,! ,,cca y claim ea* ye> reduces ! ,,ucc (! prop]ty4 ,h[ m* ,,cca c y claim8 ,base yr ,,cca claim on yr fiscal p]iod 5d+ 9 #bjjf1 & n ! cal5d> ye>4 ,! ,,cca y c claim dep5ds on ! type ( prop]ty y [n &! date y got x4 ,y h 6gr\p ! deprecia# prop]ty y [n 96classes4 ,a rate ( ,,cca applies 6ea* class4 ,we expla9 ! mo/ -mon classes ( deprecia# prop]ty 9 8,classes ( deprecia# prop]ty0 on page #bh4 ,we li/ mo/ (! classes ( deprecia# prop]ty &! rates = ea* class 9 8,capital co/ all[.e 7,,cca7 rates0 on page #dj4 #adc ,"! >e a few o!r ?+s y %d e#bd "k ab ,,cca3 --,=! mo/ "p1 use ! decl9+ bal.e me?od 6calculate yr ,,cca4 ,? m1ns t y claim ,,cca on ! capital co/ (! prop]ty m9us ! ,,cca y claim$ 9 previ\s ye>s1 if any4 ,! rema9+ bal.e decl9es ov] ! ye>s z y claim ,,cca4 --,y d n h 6claim ! maximum am.t ( ,,cca 9 any giv5 ye>4 ,y c claim any am.t y l1 f z]o 6! maximum all[$ =! ye>4 ,= example1 if y d n h 6pay 9come tax =! ye>1 y may n want 6claim ,,cca4 ,claim+ ,,cca reduces ! am.t ( ,,cca availa# 6y = future ye>s4 --,in ! ye> y acquire a deprecia# prop]ty1 y c usu,y claim ,,cca only on "o half ( yr net a4i;ns 6a class4 ,we expla9 ? #ej@3p rule 9 8,column #f--,adju/;t = curr5t-ye> a4i;ns0 on page #bg4 ,! availa#-=-use rules may al a6ect ! am.t ( ,,cca y c #add ,*apt] #c f#bd claim4 ,= m 9=m,n1 see ! def9i;n ( .availa# .= .use on page #bc4 --,y _c claim ,,cca on mo/ l& or on liv+ ?+s s* z trees1 %rubs1 or animals4 ,h["e1 y c claim ,,cca on timb] limits1 cutt+ "rs1 & wood assets4 ,= m details1 see ,9t]pret,n ,bullet9s ,,it-#dha1 ,timb] ,res\rce ,prop]ty & ,timb] -------------------------------------#be ,limits1 & ,,it-#eja1 ,capital ,co/ ,all[.e--,lo7+ ,assets1 & xs ,special ,rel1se4 --,if y claim ,,cca & y lat] 4pose (! prop]ty1 y may h 6add an am.t 6yr 9come z a recapture ( ,,cca4 ,alt]natively1 y may 2 a# 6deduct an a4i;nal am.t f yr 9come z a t]m9al loss4 ,= m 9=m,n1 see 8,column #e-- ,,ucc af a4i;ns & 4posi;ns0 on page #bf4 --,if y >e a "pn] 9 a "pn]%ip t gives y a ,t#ejac or ,t#ejac;,a slips1 y _c claim ,,cca4 ,! ,t#ejac or #ade ,*apt] #c a#be ,t#ejac;,a slips y rcv w h alr allocat$ 6y a %>e (! "pn]%ip's ,,cca on ! deprecia# prop]ty4 --,if y us$ deprecia# prop]ty 9 yr #bjjf fiscal p]iod t y us$ 9 yr fi%+ busi;s 2f ,janu>y #a1 #aigb1 -plete 8,"p ,,xvii prop]ties 7acquir$ 2f #aigb70 9 ,>ea ;,a on page #b ( ,=m ,t#baba4 ,y 7 ask+8 ,"q ,h[ d ,i calculate my ,,cca claim if ,i />t a fi%+ busi;s & my f/ fiscal p]iod is f ,june #a1 #bjjf1 6,decemb] #ca1 #bjjf8 ,answ] ,if yr fiscal p]iod is less ?an #cfe "ds1 y h 6prorate yr ,,cca claim4 ,calculate yr ,,cca us+ ! rules we 4cuss 9 ? *apt]4 ,h["e1 base yr ,,cca claim on ! numb] ( "ds 9 yr fiscal p]iod -p>$ 6#cfe "ds4 #adf ,*apt] #c b#be ,9 yr case1 yr fiscal p]iod is #bad "ds4 ,suppose y calculate yr ,,cca 6be 4#c1ejj4 ,! am.t ( ,,cca y c claim is 4#b1jeb 74#c1ejj multipli$ 0#bad divid$ 0#cfe74 ,h[ d y make yr claim8 ,use ,>ea ;,a on ,=m ,t#baba 6calculate yr #bjjf deduc;n = ,,cca & any recaptur$ ,,cca & t]m9al losses4 ,if y acquir$ or 4pos$ ( any build+s or equip;t dur+ ! fiscal p]iod1 -plete ,>1s ;,b1 ;,c1 ;,d1 or ;,e 2f -plet+ ,>ea ;,a4 ,y w f9d explan,ns on h[ 6-plete ,>1s ;,b & ;,c 9 8,column #c--,co/ ( a4i;ns 9 ! ye>0 on ? page4 ,y w f9d explan,ns on h[ 6-plete ,>1s ;,d & ;,e 9 8,column #d --,proce$s ( 4posi;ns 9 ! ye>0 on page #bf4 #adg ,*apt] #c c#be ,note ,ev5 if y >e n claim+ a deduc;n = ,,cca = #bjjf1 -plete ! appropriate >1s (! =m 6%[ any a4i;ns & 4posi;ns dur+ ! ye>4 ,column #a--,class numb] ,5t] ! class numb]s ( yr prop]ties 9 ? column4 ,if ? is ! f/ ye> y >e claim+ ,,cca1 see 8,column #c--,co/ ( a4i;ns 9 ! ye>0 2f -plet+ column #a4 ,if y claim$ ,,cca la/ ye>1 y c get ? 9=m,n f la/ ye>'s =m4 ,g5],y1 if y [n s"eal prop]ties 9 ! same class1 y -b9e ! capital co/ ( all ^! prop]ties 9 "o class4 ,we expla9 ! m -mon classes ( prop]ty 9 8,classes ( deprecia# prop]ty0 on page #bh4 ,we al li/ mo/ (! classes & _! rates 9 8,capital co/ all[.e 7,,cca7 rates0 on page #dj4 #adh ,column #b--,undepreciat$ d#be capital co/ 7,,ucc7 at ! />t (! ye> ,if ? is ! f/ ye> y >e claim+ ,,cca1 skip ? column4 ,o!rwise1 5t] 9 ? column ! ,,ucc = ea* class at ! 5d ( la/ ye>4 ,^! am.ts 7 5t]$ 9 column #aj la/ ye>4 ,subtract any 9ve/;t tax cr$it 7,,itc7 y claim$ or 7 refund$ 9 #bjje f yr ,,ucc at ! />t ( #bjjf4 ,al subtract any #bjje ,,itc y c>ri$ back 6a ye> 2f #bjje4 ,y may h rcvd a ,,gst/,,hst 9put tax cr$it 9 #bjje =a pass5g] vehicle y us$ less ?an #ij@3p (! "t 9 yr busi;s4 ,9 ? case1 subtract ! am.t (! cr$it f yr 2g9n+ ,,ucc4 ,= m 9=m,n1 see 8,grants1 subsidies1 & rebates0 on page #cj4 ,note ,9 #bjjf1 y may 2 claim+1 c>ry+ back1 or gett+ a refund ( an ,,itc4 ,if y / h deprecia# prop]ty 9 ! class1 y h 6adju/ ! ,,ucc (! class 6: ! prop]ty 2l;gs 9 #bjjg4 ,6d ?1 subtract #adi ,*apt] #c e#be ! am.t (! ,,itc f ! ,,ucc at ! 2g9n+ ( #bjjg4 ,:5 "! is no prop]ty left 9 ! class1 report ! am.t (! ,,itc z 9come 9 #bjjg4 ,column #c--,co/ ( a4i;ns 9 ! ye> ,if y acquire or make improve;ts 6deprecia# prop]ty 9 ! ye>1 we 3sid] !m 6be a4i;ns 6! class 9 : ! prop]ty 2l;gs4 ,y %d3 --complete ,>1s ;,b & ;,c ( ,=m ,t#baba z expla9$ on page #bf2 & --5t] 9 column #c ( ,>ea ;,a = ea* class ! figure f column #e ( ea* class 9 ,>1s ;,b & ;,c4 ,if a *>t asks =! p]sonal "p (a prop]ty1 ? ref]s 6! "p t y use t is sep>ate f :at y use = fi%+ busi;s4 ,= example1 if y use #be@3p (! build+ y live 9 = busi;s1 yr p]sonal "p is ! o!r #ge@3p4 #aej ,*apt] #c f#be ,d n 9clude ! value ( yr lab\r 9 ! co/ (a prop]ty y build or improve1 b 9clude ! co/ ( survey+ or valu+ a prop]ty y acquire4 ,rememb] t a prop]ty usu,y has 6be availa# = use 2f y c claim ,,cca4 ,see ! def9i;n ( .availa# .= .use on page #bc4 ,if y rcvd 9sur.e proce$s 6reimburse y =! loss or de/ruc;n ( deprecia# prop]ty1 5t] ! am.t y sp5t 6replace ! prop]ty 9 column #c ( ,>ea ;,a1 & al 9 ,>ea ;,b or ;,c1 :i*"e applies4 ,9clude ! am.t ( 9sur.e proce$s z deem$ proce$s ( 4posi;n 9 column #d ( ,>ea ;,a & al 9 ,>ea ;,d or ;,e1 :i*"e applies4 ,if y replac$ a lo/ or de/roy$ prop]ty )9 a ye> (! loss1 special rules = replace;t prop]ty may apply 6y4 ,see ,9t]pret,n ,bullet9s ,,it-#bei1 ,ex*anges ( -------------------------------------#bf ,prop]ty1 & ,,it-#dia1 ,=m] ,busi;s ,prop]ty1 & xs ,special ,rel1se4 #aea ,*apt] #c a#bf ,6f9d \ if any special rules apply :5 y acquire prop]ty1 see 8,special situ,ns0 on page #bi4 ,>ea ;,b--,details ( equip;t a4i;ns 9 ! ye> ,li/ 9 ? *>t ! details ( all equip;t1 ma*9]y1 or motor vehicles y acquir$ or improv$ 9 #bjjf4 ,gr\p ! equip;t 96! applica# classes & put ea* class on a sep>ate l9e4 ,equip;t 9cludes a motor vehicle1 ma*9]y1 & equip;t y get 6use 9 yr fi%+ busi;s4 ,5t] on l9e #iibe ! total busi;s "p (! co/ (! equip;t4 ,y w f9d 9=m,n ab capital co/ on page #bd4 ,>ea ;,c--,details ( build+ a4i;ns 9 ! ye> ,li/ ! details ( all build+s y acquir$ or improv$ 9 #bjjf4 ,gr\p ! #aeb ,*apt] #c b#bf build+s 96! applica# classes & put ea* class on a sep>ate l9e4 ..,5t] on l9e .#iibg ! total busi;s "p (! co/ (! build+s4 ,! co/ 9cludes ! pur*ase price (! build+1 plus any relat$ exp5ses t y %d add 6! capital co/ (! build+ s* z legal fees1 l& transf] taxes1 & mortgage fees4 ,y w f9d 9=m,n ab capital co/ on page #bd4 ,l& ,l& is usu,y n deprecia# prop]ty4 ,"!=e1 y _c claim ,,cca on xs co/4 ,if y acquire a prop]ty t 9cludes bo? l& &a build+1 5t] 9 column #c ( ,>ea ;,c only ! co/ (! build+4 ,6"w \ ! build+'s capital co/1 y h 6split 2t ! l& &! build+ any fees t relate 6buy+ ! prop]ty4 ,relat$ fees may 9clude legal & a3.t+ fees4 ,calculate ! "p (! relat$ fees y c 9clude 9 ! capital co/ (! build+ z foll[s3 #aec ,*apt] #c c#bf build+ value divid$ 0total pur*ase price multipli$ 0legal1 a3.t+1 or o!r fees equals ! "p (! fees y c 9clude 9 ! build+'s co/ ,y d n h 6split a fee if x relates ei 6! l& or ! build+4 ,9 ? case1 y wd add ! am.t (! fee 6! co/ 6: x relates4 ,>ea ;,f--,details ( l& a4i;ns & 4posi;ns 9 ! ye> .,5t] ! total co/ ( acquir+ l& 9 #bjjf .on .l9e .#iibc4 ,! co/ 9cludes ! pur*ase price (! l& plus any relat$ exp5ses t y %d add 6! capital co/ (! l&1 s* z legal fees1 l& transf] taxes1 & mortgage fees4 ,y _c claim ,,cca on l&4 ,d .n 5t] ? am.t 9 column #c ( ,>ea ;,a4 #aed ,column #d--,proce$s ( d#bf 4posi;ns 9 ! ye> ,5t] ! details ( yr #bjjf 4posi;ns on ,=m ,t#baba1 z expla9$ 2l4 ,if y 4pos$ (a deprecia# prop]ty dur+ yr #bjjf fiscal p]iod1 5t] 9 column #c (! appropriate 4posi;ns *>t "o (! foll[+ am.ts1 .:i*"e .is .less3 --yr proce$s ( 4posi;n1 m9us any relat$ exp5ses2 or --! capital co/ ( yr deprecia# prop]ty4 ,note ,if a *>t asks =! p]sonal "p (a prop]ty1 ? ref]s 6! "p t y use t is sep>ate f ! "p y use = busi;s4 ,= example1 if y use #be@3p (! build+ y live 9 = busi;s1 yr p]sonal "p is ! o!r #ge@3p4 ,5t] 9 column #d ( ,>ea ;,a = ea* class ! figure f column #e ( ea* class 9 ,>1s ;,d & ;,e4 #aee ,*apt] #c e#bf ,if y rcvd 9sur.e proce$s 6reimburse y =! loss or de/ruc;n ( deprecia# prop]ty1 5t] ! am.t y sp5t 6replace ! prop]ty 9 column #c ( ,>ea ;,a1 & al 9 ,>ea ;,b or ;,c1 :i*"e applies4 ,9clude ! am.t ( 9sur.e proce$s z deem$ proce$s ( 4posi;n 9 column #d ( ,>ea ;,a & al 9 ,>ea ;,d or ;,e1 :i*"e applies4 ,if y sell a prop]ty = m ?an x co/1 y w h a capital ga94 ,see ,guide ,t#djcg1 ,capital ,ga9s1 = details4 ,y _c h a capital loss :5 y sell deprecia# prop]ty4 ,h["e1 y may h a t]m9al loss4 ,see 8,column #e--,,ucc af a4i;ns & 4posi;ns0 2l = an explan,n ( t]m9al losses4 ,if all (! proce$s ( 4posi;n >e n rcvd 9 ! ye>1 see ,9t]pret,n ,bullet9 ,,it-#bbj1 ,capital ,co/ ,all[.e-- ,proce$s ( ,4posi;n ( ,deprecia# ,prop]ty1 & xs ,special ,rel1se4 #aef ,>ea ;,d--,details ( f#bf equip;t 4posi;ns 9 ! ye> ,9 ? *>t1 li/ ! details ( all equip;t & motor vehicles y 4pos$ ( 9 yr #bjjf fiscal p]iod4 ,gr\p ! equip;t 96! classes t apply1 & put ea* class on a sep>ate l9e4 ,5t] on l9e #iibf ! total busi;s "p (! proce$s ( 4posi;n (! equip;t & motor vehicles4 ,>ea ;,e--,details ( build+ 4posi;ns 9 ! ye> ,9 ? *>t1 li/ ! details ( all build+s y 4pos$ ( 9 yr #bjjf fiscal p]iod4 ,gr\p ! build+s 96! classes t apply & put ea* class on a sep>ate l9e4 ,5t] on l9e #iibh ! total busi;s "p (! proce$s ( 4posi;n (! build+s4 #aeg ,>ea ;,f--,details ( l& g#bf a4i;ns & 4posi;ns 9 ! ye> ,5t] on l9e #iibd ! total ( all am.ts y rcvd or w rcv = 4pos+ ( l& 9 ! fiscal p]iod4 ,column #e--,,ucc af a4i;ns & 4posi;ns ,y _c claim ,,cca :5 ! am.t 9 column #e is3 --.negative 7see 8,recapture ( ,,cca0 on page #bg72 or -------------------------------------#bg --.positive & y d n h any prop]ty left 9 t class at ! 5d ( yr #bjjf fiscal p]iod 7see 8,t]m9al loss0 2l74 ,9 ei case1 5t] 8#j0 9 column #aj4 ,recapture ( ,,cca ,if ! am.t 9 column #e is negative1 y h a recapture ( ,,cca4 ,5t] yr #aeh ,*apt] #c a#bg recapture on ! 8,o!r 9come0 l9e ( ,=m ,t#baba4 ,a recapture ( ,,cca c happ5 if y sell ! prop]ty1 or if y rcv a gov]n;t grant or claim an 9ve/;t tax cr$it4 ,a recapture ( ,,cca c al happ5 if ! proce$s f ! sale ( deprecia# prop]ty >e m ?an ! total (3 --! ,,ucc (! class at ! />t (! fiscal p]iod2 & --! capital co/ ( any new a4i;ns dur+ ! fiscal p]iod4 ,9 "s cases1 y may 2 a# 6po/p"o a recapture ( ,,cca4 ,= example1 y may sell a prop]ty & replace x )a simil> "o1 "s"o may expropriate yr prop]ty1 or y may transf] prop]ty 6a corpor,n or a "pn]%ip4 ,t]m9al loss ,if ! am.t 9 column #e is positive & y no l;g] [n any prop]ty 9 t class1 y may h a t]m9al loss4 ,m precisely1 y may h a t]m9al loss :51 at ! 5d (a fiscal #aei ,*apt] #c b#bg p]iod1 y h no m prop]ty 9 ! class b / h an am.t : y h n deduct$ z ,,cca4 ,y c usu,y subtract ? t]m9al loss f yr gross fi%+ 9come 9 ! ye> y 4pos$ (! deprecia# prop]ty4 ,5t] yr t]m9al loss on l9e #ibgj1 8,o!r exp5ses10 ( ,=m ,t#baba4 ,= m 9=m,n on recapture ( ,,cca & t]m9al loss1 see ,9t]pret,n ,bullet9 ,,it-#dgh1 ,capital ,co/ ,all[.e-- ,recapture & ,t]m9al ,loss4 ,note ,! rules = recapture ( ,,cca & t]m9al loss d n apply 6pass5g] vehicles 9 ,class #aj.a4 ,h["e1 6calculate yr ,,cca claim1 see ! -;ts 9 8,column #g --,base am.t = ,,cca0 on ? page4 ,column #f--,adju/;t = curr5t- ye> a4i;ns ,9 ! ye> y acquire or make a4i;ns 6a prop]ty1 y c usu,y claim ,,cca on only "o-half ( yr net a4i;ns 7! am.t 9 #afj ,*apt] #c c#bg column #c m9us ! am.t 9 column #d74 ,we call ? ! .#ej@3p .rule4 ,column #f all[s y 6adju/ ! co/ ( prop]ty y got 9 #bjjf4 ,calculate yr ,,cca claim only on ! net adju/$ am.t4 ,d n reduce ! co/ (! a4i;ns 9 column #c or ! ,,cca rate 9 column #h4 ,= example1 if y acquir$ a prop]ty 9 yr #bjjf fiscal p]iod = 4#cj1jjj1 y wd base yr ,,cca claim on 4#ae1jjj 74#cj1jjj multipli$ 0#ej@3p74 ,if y acquir$ & 4pos$ ( deprecia# prop]ty (! same class 9 yr #bjjf fiscal p]iod1 ! calcul,n 9 column #f re/ricts yr ,,cca claim4 ,calculate ! ,,cca y c claim z foll[s3 --,det]m9e : (! foll[+ am.ts is less3 --! proce$s ( 4posi;n ( yr prop]ty m9us any relat$ co/s or exp5ses2 or --! capital co/4 --,subtract ! abv am.t f ! capital co/ ( yr a4i;n4 #afa ,*apt] #c d#bg --,5t] #ej@3p (! result 9 column #f4 ,if ! result is negative1 5t] 8#j40 ,9 "s cases1 y d n make an adju/;t 9 column #f4 ,= example1 y may buy deprecia# prop]ty 9 a non->m's l5g? transac;n t ! sell] 3t9u\sly [n$ f ! "d t is at l1/ #cfd "ds 2f ! 5d ( yr #bjjf fiscal p]iod 6! "d ! prop]ty 0 pur*as$4 ,h["e1 if y transf] p]sonal prop]ty s* z a c> or p]sonal -put] 96yr busi;s1 ! #ej@3p rule applies 6! "picul> prop]ty transf]r$4 ,al1 "s prop]ties >e n subject 6! #ej@3p rule4 ,"s examples >e ^? 9 ,classes #ac1 #ad1 #bc1 #bd1 #bg1 #bi1 & #cd1 z well z "s ( ^? 9 ,class #ab1 s* z mo/ small tools t co/ less ?an 4#bjj 74#ejj af ,may #a1 #bjjf1 z propos$74 ,! #ej@3p rule does n apply :5 ! availa#-=-use rule d5ies a ,,cca claim until ! second tax ye> af ! ye> y acquir$ ! prop]ty4 #afb ,*apt] #c e#bg ,= m 9=m,n on ! #ej@3p rule1 see ,9t]pret,n ,bullet9 ,,it-#bhe1 ,capital ,co/ ,all[.e--,g5]al ,-;ts4 ,column #g--,base am.t = ,,cca ,base yr ,,cca claim on ? am.t4 ,=a ,class #aj.a vehicle y 4pos$ ( 9 yr #bjjf fiscal p]iod1 y may 2 a# 6claim #ej@3p (! ,,cca t wd 2 all[$ if y / [n$ ! vehicle at ! 5d ( yr #bjjf fiscal p]iod4 ,? is "kn z ! ..half-ye> rule on .sale4 ,y c use ! half-ye> rule on sale if1 at ! 5d ( yr #bjje fiscal p]iod1 y [n$ ! ,class #aj.a vehicle y 4pos$ ( 9 #bjjf4 ,if ? applies 6y1 5t] #ej@3p (! am.t f column #b 9 column #g4 ,column #h--,rate 7@3p7 ,9 ? column1 5t] ! rate = ea* class ( prop]ty 9 ,>ea ;,a4 ,= m detail$ 9=m,n on c]ta9 k9ds ( prop]ty1 see #afc ,*apt] #c f#bg 8,classes ( deprecia# prop]ty0 on page #bh4 ,=a li/ ( rates1 see 8,capital co/ all[.e 7,,cca7 rates0 on page #dj4 ,column #i--,,cca =! ye> ,9 column #i1 5t] ! ,,cca y *oose 6deduct = #bjjf4 ,! ,,cca y deduct _c 2 m ?an ! am.t y get :5 y multiply ! am.t 9 column #g 0! rate 9 column #h4 ,y c deduct any am.t up 6! maximum4 ,if ? is yr f/ ye> ( busi;s1 y may h 6prorate yr ,,cca claim4 ,see 8,y 7 ask+80 on page #be4 ,add all ! am.ts 9 column #i4 ,5t] ! total on l9e #iicf1 8,capital co/ all[.e10 on ,=m ,t#baba4 ,if y -------------------------------------#bh >e us+ ! prop]ty = bo? busi;s & p]sonal use1 see 8,p]sonal use ( prop]ty0 on page #bi 6f9d \ h[ 6calculate yr ,,cca claim4 #afd ,column #aj--,,ucc at ! 5d a#bh (! ye> ,? is ! undepreciat$ capital co/ 7,,ucc7 at ! 5d ( yr #bjjf fiscal p]iod4 ,? is ! am.t y w 5t] 9 column #b :5 y calculate yr ,,cca claim next ye>4 ,5t] 8#j0 9 column #aj if y h a t]m9al loss or a recapture ( ,,cca4 ,"! w n 2 an am.t 9 column #aj =a ,class #aj.a pass5g] vehicle y 4pose ( 9 ! ye>4 ,classes ( deprecia# prop]ty ,9 ? "p1 we 4cuss ! m -mon types ( deprecia# prop]ties4 ,we li/ mo/ (! classes & _! rates "u 8,capital co/ all[.e 7,,cca7 rates0 on page #dj4 ,o!r prop]ty--,class #h 7#bj@3p7 ,class #h 9cludes prop]ty t is n 9clud$ 9 any o!r class4 ,= example1 furniture1 appli.es1 fixtures1 #afe ,*apt] #c b#bh ma*9]y1 & equip;t y use 9 yr busi;s >e all 9 ? class4 ,electronic (fice equip;t & data net"w 9fra/ructure equip;t--,class #h 7#bj@3p71 ,class #aj 7#cj@3p71 ,class #de 7#de@3p71 & ,class #df 7#cj@3p7 ,,cca classes = electronic equip;t 9clude3 ,class #h 7#bj@3p7 ,9clude 9 ,class #h -put] s(tw>e 7o!r ?an sy/ems s(tw>e 9 ,class #de71 photocopi]s1 & electronic -munic,n equip;t s* z fax ma*9es or teleph"o equip;t4 ,2c -put] s(tw>e & (fice equip;t c 2come obsolete 2f y c fully deduct _! co/ = 9come tax purposes1 y c elect 69clude ! ,class #h prop]ty 9 a #aff ,*apt] #c c#bh sep>ate class4 ,! elec;n w only apply 6ea* prop]ty t co/s 4#a1jjj or m4 7,! elec;n does n apply 6prop]ty 9 ,class #de & ,class #df47 ,? sep>ate class does n *ange ! ,,cca rate t applies 6! prop]ties4 ,h["e1 ! elec;n lets y calculate a sep>ate ,,cca deduc;n =a five-ye> p]iod4 ,9 ? way1 :5 all ! prop]ty 9 ! class is 4pos$ (1 ! undepreciat$ capital co/ 7,,ucc7 (! equip;t w 2 fully deducti# z a t]m9al loss4 ,= m 9=m,n on t]m9al losses1 see 8,column #e--,,ucc af a4i;ns & 4posi;ns0 on page #bf4 ,class #ab 7#ajj@3p7 ,class #ab 9cludes -put] s(tw>e t is n sy/ems s(tw>e4 ,s(tw>e 9 ,class #ab .is subject 6! #ej@3p rule4 #afg ,class #de 7#de@3p7 d#bh ,9clude 9 ,class #de -put] equip;t & sy/ems s(tw>e acquir$ af ,m>* #bb1 #bjjd4 7,previ\sly1 -put] equip;t & sy/ems s(tw>e 7 9clud$ 9 ,class #aj )a #cj@3p ,,cca rate47 ,class #df 7#cj@3p7 ,class #df 0 cr1t$ = data net"w 9fra/ructure equip;t acquir$ af ,m>* #bb1 #bjjd4 7,previ\sly data net"w 9fra/ructure equip;t 0 9clud$ 9 ,class #h )a #bj@3p ,,cca rate47 ,pass5g] vehicles--,class #aj & ,class #aj.a 7#cj@3p7 ,yr pass5g] vehicle c 2l;g 6ei ,class #aj or ,class #aj.a4 ,we def9e .pass5g] .vehicle on page #ae4 ,9clude yr pass5g] vehicle 9 ,class #aj un.s x meets a ,class #aj.a 3di;n4 ,li/ ea* ,class #aj.a vehicle sep>ately4 #afh ,*apt] #c e#bh ,9clude yr pass5g] vehicle 9 ,class #aj.a if y b"\ x 9 #bjjf or #bjje & x co/ m ?an 4#cj1jjj4 ,we 3sid] ! capital co/ ( t vehicle 6be 4#cj1jjj plus ! relat$ ,,gst & ,,pst1 or ,,hst4 ,! 4#cj1jjj am.t is ! capital co/ limit =a pass5g] vehicle4 ,h["e1 6det]m9e ! class 6: yr pass5g] vehicle 2l;gs1 y h 6use ! co/ (! vehicle 2f y add ,,gst & ,,pst1 or ,,hst4 ,example ,angie [ns a fi%+ busi;s4 ,on ,june #ba1 #bjjf1 %e b"\ two pass5g] vehicles 6use 9 h] busi;s4 ,! ,,pst rate = h] prov9ce is #h@3p4 ,angie wrote d[n ^! details = #bjjf3 ,transcrib]'s note3 7,! foll[+ is set up 9 f\r columns3 ,column #a3 ,co/ ,column #b3 ,,gst ,column #c3 ,,pst ,column #d3 ,total7 #afi ,*apt] #c f#bh ,vehicle #a3 ,co/3 4#cc1jjj ,,gst3 4#b1caj ,,pst3 4#b1fdj ,total3 4#cg1iej ,vehicle #b3 ,co/3 4#bh1jjj ,,gst3 4#a1ifj ,,pst3 4#b1bdj ,total3 4#cb1bjj ,angie puts vehicle #a 9 ,class #aj.a1 s9ce %e b"\ x 9 #bjjf & x co/ h] m ?an 4#cj1jjj4 ,2f ,angie 5t]s an am.t 9 column #c ( ,>ea ;,b1 %e has 6calculate ! ,,gst & ,,pst on 4#cj1jjj4 ,%e does ? z foll[s3 --,,gst at #g@3p ( 4#cj1jjj equals 4#b1ajj2 & --,,pst at #h@3p ( 4#cj1jjj equals 4#b1djj4 #agj ,*apt] #c g#bh ,"!=e1 ,angie's capital co/ is 4#cd1ejj 74#cj1jjj plus 4#b1ajj plus 4#b1djj74 ,%e 5t]s ? am.t 9 column #c ( ,>ea ;,b4 ,angie puts vehicle #b 96,class #aj1 s9ce %e b"\ x 9 #bjje & x did n co/ h] m ?an 4#cj1jjj4 ,angie's capital co/ is 4#cb1bjj 74#bh1jjj plus 4#a1ifj plus 4#b1bdj74 ,%e 5t]s ? am.t 9 column #c ( ,>ea ;,b4 ,note ,= ? example we us$ #g@3p z ! ,,gst rate & #h@3p z ! ,,pst rate4 ,= yr calcul,n1 use ! curr5t ,,gst rate &! ,,pst rate t applies 9 yr prov9ce or t]ritory4 ,if y live 9 a "picipat+ prov9ce t has h>moniz$ sales tax 7,,hst71 use ! curr5t ,,hst rate4 ,= m 9=m,n ab ,,gst/,,hst1 see ,guide #aga ,*apt] #c h#bh ,,rc#djbb1 ,g5]al ,9=m,n = ,,gst/,,hst ,regi/rants4 ,/>t \tl9e ,on ,july #a1 #bjjf1 ! ,,gst rate 0 reduc$ 6#f@3p &! ,,hst rate 6#ad@3p4 ,5d \tl9e -------------------------------------#bi ,special rates = c]ta9 boats ,9 mo/ cases1 a fi%+ boat 2l;gs 6,class #g4 ,"!=e1 y c claim ,,cca at a maximum rate ( #ae@3p4 ,h["e1 "! >e "s excep;ns 6? rule4 ,a fi%+ boat1 or ! co/ 63v]t x1 is eligi# =a special rate ( ,,cca z foll[s3 --,if y b"\ ! boat 2t ,novemb] #ac1 #aiha1 & ,decemb] #ca1 #aihb1 y c claim ,,cca at a ye>ly rate ( #cc & #a ov] #c p]c5t4 ,y c d ? only 9 c]ta9 cases4 --,if y b"\ ! boat af ,decemb] #ca1 #aihb1 y c claim ,,cca at a rate ( #af two-?irds p]c5t =! ye> #agb ,*apt] #c a#bi y b"\ ! boat4 ,y c claim #cc & #a ov] #c p]c5t =! ye>s af y b"\ ! boat4 ,y c claim ? special rate on ! foll[+3 --a boat t 0 built & regi/]$ 9 ,canada & 0 n us$ = any purpose 2f y b"\ x2 --! co/ 63v]t or alt] a boat 9 ,canada2 & --a boat1 or ! co/ 63v]t x1 e/abli%$ z a sep>ate prescrib$ class "u ! n[-rep1l$ ,canadian ,vessel ,3/ruc;n ,assi/.e ,act4 ,small tools--,class #ab 7#ajj@3p7 ,/>t \tl9e ,! #bjjf f$]al budget proposes 69cr1se ! co/ limit f 4#bjj 64#ejj = small tools acquir$ af ,may #a1 #bjjf4 ,5d \tl9e #agc ,*apt] #c b#bi ,9clude small tools t co/ less ?an 4#bjj 74#ejj af ,may #a1 #bjjf1 z propos$7 9 ,class #ab4 ,mo/ small tools 9 ,class #ab >e .n subject 6! #ej@3p rule4 ,!y >e fully deducti# 9 ! ye> ( pur*ase4 ,/>t \tl9e ,note ,if ! tool co/s 4#bjj 74#ejj af ,may #a1 #bjjf1 z propos$7 or m1 9clude x 9 ,class #h )a ,,cca rate ( #bj@3p4 ,5d \tl9e ,l1sehold 9t]e/--,class #ac ,special ,,cca rules apply 6l1sehold 9t]e/s 9 prop]ty4 ,if y h a l1sehold 9t]e/1 see ,9t]pret,n ,bullet9 ,,it-#dfd1 ,capital ,co/ ,all[.e--,l1sehold ,9t]e/s1 = details4 #agd ,special situ,ns c#bi ,p]sonal use ( prop]ty ,if y buy prop]ty = bo? busi;s & p]sonal use1 "! >e two ways 6%[ ! busi;s "p (! prop]ty 9 ,>ea ;,b or ,>ea ;,c3 ,if yr busi;s use /ays ! same f ye> 6ye>1 5t] 9 ,>ea ;,b or ,>ea ;,c ! total co/ (! prop]ty 9 column #c1 ! p]sonal "p 9 column #d1 &! busi;s "p 9 column #e4 ,6calculate ! ,,cca y c claim1 5t] ! am.t f column #e 9 column #c ( ,>ea ;,a4 ,if yr busi;s use *anges f ye> 6ye>1 5t] 9 ,>ea ;,b or ,>ea ;,c ! total co/ (! prop]ty 9 column #c & column #e1 & 5t] 8#j0 9 column #d4 ,6calculate ! ,,cca y c claim1 5t] ! am.t f column #e 9 column #c ( ,>ea ;,a4 ,:5 y claim ,,cca1 y w h 6calculate ! all[a# "p y c claim = busi;s use4 ,! ,,cca calculat$ =! busi;s use (a "w space 9 yr home 9 ,>ea ;,a ( ,=m ,t#baba m/ 2 report$ on ! *>t 8,calcul,n ( busi;s-use-(-home exp5ses0 on #age ,*apt] #c d#bi page #b (! =m4 ,? ,,cca m/ 2 subtract$ f ! total am.t (! ,,cca =! ye> calculat$ 9 ,>ea ;,a & m/ n 2 9clud$ on l9e #iicf1 8,capital co/ all[.e10 on page #a (! =m4 ,example ,jim [ns a fi%+ busi;s4 ,he b"\ a c> 9 #bjjf t he uses = bo? p]sonal & busi;s purposes4 ,! c> co/ 4#bj1jjj1 9clud+ all *>ges & taxes4 ,"!=e1 he 9cludes ! c> 9 ,class #aj4 ,jim's busi;s use v>ies f ye> 6ye>4 ,he calculates 8 ,,cca on ! c> = #bjjf z foll[s3 ,jim 5t]s 4#bj1jjj 9 column #c & column #e ( ,>ea ;,b4 ,he al 5t]s 4#bj1jjj 9 column #c ( ,>ea ;,a4 ,0-plet+ ! o!r columns 9 ! *>t1 he calculates a ,,cca claim ( 4#c1jjj4 ,2c ,jim us$ 8 c> "ply = p]sonal use1 he calculates 8 ,,cca claim = #bjjf z foll[s3 #agf ,*apt] #c e#bi #ab1jjj 7busi;s kilometres7 divid$ 0#ah1jjj 7total kilometres7 multipli$ 04#c1jjj equals 4#b1jjj ,jim 5t]s 4#b1jjj on l9e #iicf1 8,capital co/ all[.e10 on ,=m ,t#baba4 ,note ,! capital co/ limits on a ,class #aj.a vehicle 7a pass5g] vehicle7 / apply :5 y split ! capital co/ 2t busi;s & p]sonal use4 ,= m details1 see 8,pass5g] vehicles--,class #aj & ,class #aj.a 7#cj@3p70 on page #bh4 ,*ang+ f p]sonal 6busi;s use ,if y b"\ a prop]ty = p]sonal use & />t$ us+ x 9 yr busi;s 9 yr #bjjf fiscal p]iod1 "! is a *ange 9 use4 ,y ne$ 6det]m9e ! capital co/ = busi;s purposes4 ,if ! ,,fmv (a deprecia# prop]ty is less ?an xs orig9al co/ :5 y #agg ,*apt] #c f#bi *ange xs use1 ! am.t y put 9 column #c ( ei ,>ea ;,b or ,>ea ;,c is ! ,,fmv (! prop]ty 7exclud+ ! l& value if ! prop]ty is l& &a build+74 ,if ! ,,fmv is m ?an ! orig9al co/ (! prop]ty 7exclud+ ! l& value if ! prop]ty is l& &a build+7 :5 y *ange xs use1 use ! foll[+ *>t 6det]m9e ! am.t 65t] 9 column #c ( ,>ea ;,b or ;,c4 -------------------------------------#cj ,capital co/ calcul,n 7#a7 ,actual co/ (! prop]ty """"""""""""""""""""""" 4#---- 7#b7 ,,fmv (! prop]ty """" 4#---- 7#c7 ,am.t on l9e #a """"" 4#---- 7#d7 ,l9e #b .m9us l9e #c 7if negative1 5t] 8#j07 4#---- 7#e7 ,5t] any capital ga9s deduc;n claim$ =! am.t on l9e #d 99 4#---- "ts #b """"""""""""""""""""" 4#---- #agh ,*apt] #c a#cj 7#f7 ,l9e #d .m9us l9e #e 7if negative1 5t] 8#j07 4#---- "ts "o-half """""""""""" 4#---- .,capital .co/ 7#g7 ,l9e #a .plus l9e #f """"""" 4#---- 99 ,5t] ! am.t t relates 6! deprecia# prop]ty only4 ,5t] ! capital co/ (! prop]ty f l9e #g 9 column #c ( ,>ea ;,b or ;,c4 ,note ,we 3sid] y 6h acquir$ ! l& = an am.t equal 6xs ,,fmv :5 y *ange xs use4 ,9clude ? am.t on l9e #iibc1 8,total co/ ( all l& a4i;ns 9 ! ye>10 9 ,>ea ;,f ( ,=m ,t#baba4 ,grants1 subsidies1 & rebates ,y may rcv a grant1 subsidy1 or rebate f a gov]n;t or a gov]n;t ag5cy #agi ,*apt] #c b#cj 6buy deprecia# prop]ty4 ,:5 ? happ5s1 subtract ! am.t y rcvd f ! prop]ty's capital co/4 ,d ? 2f y 5t] ! capital co/ 9 column #c ( ,>ea ;,b or ;,c4 ,y may h pd ,,gst/,,hst on "s (! deprecia# prop]ty y acquir$ = yr busi;s4 ,if s1 y may h al rcvd an 9put tax cr$it 7,,itc7 f u4 ,! ,,itc is gov]n;t assi/.e4 ,"!=e1 subtract x f ! prop]ty's capital co/4 ,d ? 2f y 5t] ! capital co/ 9 column #c ( ,>ea ;,b or ,>ea ;,c1 :i*"e applies4 ,if y rcv an ,,itc =a pass5g] vehicle y use 9 yr busi;s1 use ."o ( ^! me?ods3 --,=a pass5g] vehicle y use #ij@3p or m (! "t = yr busi;s1 subtract ! am.t (! ,,itc f ! vehicle's co/ 2f y 5t] xs capital co/ 9 column #c ( ,>ea ;,b4 --,=a pass5g] vehicle y use less ?an #ij@3p (! "t = yr busi;s1 d n make an adju/;t 9 #bjjf4 ,9 #bjjg1 subtract ! am.t (! ,,itc f yr 2g9n+ ,,ucc4 #ahj ,*apt] #c c#cj ,y may get an 9c5tive f a non-gov]n;t ag5cy 6buy deprecia# prop]ty4 ,if ? happ5s1 y c ei 9clude ! am.t 9 9come or subtract ! am.t f ! capital co/ (! prop]ty4 ,= m details ab gov]n;t assi/.e1 see ,9t]pret,n ,bullet9 ,,it-#bgc1 ,gov]n;t ,assi/.e--,g5]al ,-;ts4 ,non->m's l5g? transac;ns ,:5 y acquire deprecia# prop]ty 9 a non->m's l5g? transac;n1 "! >e special rules 6foll[ 6det]m9e ! prop]ty's capital co/4 ,^! special rules w n apply if y acquire ! prop]ty 2c ( "s"o's d1?4 ,y c acquire deprecia# prop]ty 9 a non->m's l5g? transac;n f an 9dividual resid5t 9 ,canada1 a "pn]%ip ) at l1/ "o "pn] :o is an 9dividual resid5t 9 ,canada1 or a "pn]%ip ) at l1/ "o "pn] t is ano!r "pn]%ip4 ,if y pay .m =! prop]ty ?an ! sell] pd = x1 calculate ! co/ z foll[s3 #aha ,capital co/ calcul,n d#cj ,non->m's l5g? transac;n-- resid5t ( ,canada 7#a7 ,! sell]'s co/ or capital co/ """"""""""""""""""" 4#---- 7#b7 ,! sell]'s proce$s ( 4posi;n """""""""""""""" 4#---- 7#c7 ,am.t f l9e #a """""" 4#---- 7#d7 ,l9e #b .m9us l9e #c 7if negative1 5t] 8#j07 4#---- 7#e7 ,5t] any capital ga9s deduc;n claim$ =! am.t on l9e #d 4#---- "ts #b 4#---- 7#f7 ,l9e #d .m9us l9e #e 7if negative1 5t] 8#j07 4#---- "ts "o-half """""""""""" 4#---- .,capital .co/ 7#g7 ,l9e #a .plus l9e #f """"""" 4#---- ,5t] ? am.t 9 column #c ( ei ,>ea ;,b or ,>ea ;,c1 :i*"e applies4 ,d n 9clude ! co/ (! relat$ l&1 : y #ahb ,*apt] #c e#cj h 69clude on l9e #iibc1 8,total co/ ( all l& a4i;ns 9 ! ye>10 9 ,>ea ;,f ( ,=m ,t#baba4 ,y c al buy deprecia# prop]ty 9 a non- >m's l5g? transac;n f a corpor,n or f an 9dividual :o is n resid5t 9 ,canada1 or a "pn]%ip ) no "pn]s :o >e 9dividuals resid5t 9 ,canada or no "pn]s t >e o!r "pn]%ips4 -------------------------------------#ca ,if y pay .m =! prop]ty ?an ! sell] pd = x1 calculate ! capital co/ z foll[s3 ,capital co/ calcul,n ,non->m's l5g? transac;n--non- resid5t ( ,canada 7#a7 ,! sell]'s co/ or capital co/ """"""""""""""""""" 4#---- 7#b7 ,! sell]'s proce$s ( 4posi;n """""""""""""""" 4#---- 7#c7 ,am.t f l9e #a """""" 4#---- #ahc ,*apt] #c a#ca 7#d7 ,l9e #b .m9us l9e #c 7if negative1 5t] 8#j07 4#---- "ts "o-half """"""""""""""""""""""" 4#---- .,capital .co/ 7#e7 ,l9e #a .plus l9e #d """"""" 4#---- ,5t] ? am.t 9 column #c ( ei ,>ea ;,b or ,>ea ;,c1 :i*"e applies4 ,d n 9clude ! co/ (! relat$ l&1 : y h 69clude on l9e #iibc1 8,total co/ ( all l& a4i;ns 9 ! ye>10 9 ,>ea ;,f ( ,=m ,t#baba4 ,if y buy deprecia# prop]ty 9 a non- >m's l5g? transac;n & pay .less = x ?an ! sell] pd1 yr capital co/ is ! same am.t z ! sell] pd4 ,we 3sid] y 6h deduct$ z ,,cca ! di6];e 2t :at y pd & :at ! sell] pd4 #ahd ,*apt] #c b#ca ,example ,]9 b"\ an \tbo>d motor = 4#d1jjj f h] "f1 ,paul1 9 h] #bjjf fiscal p]iod4 ,paul pd 4#aj1jjj =! \tbo>d motor 9 #aiif4 ,s9ce ! am.t ,]9 pd is less ?an ! am.t ,paul pd1 we 3sid] ,]9's co/ 6be 4#aj1jjj4 ,we al 3sid] ,]9 6h deduct$ ,,cca ( 4#f1jjj 9 ! pa/ 74#aj1jjj m9us 4#d1jjj74 ,]9 -pletes ! ,,cca *>t z foll[s3 --in ,>ea ;,b1 %e 5t]s 4#aj1jjj 9 column #c1 8,total co/02 & --in ,>ea ;,a1 %e 5t]s 4#d1jjj 9 column #c1 8,co/ ( a4i;ns 9 ! ye>10 z ! a4i;n = h] #bjjf fiscal p]iod4 ,"! is a limit on ! co/ (a pass5g] vehicle y buy 9 a non->m's l5g? transac;n4 ,! co/ is1 :i*"e "o ( ^! ?ree am.ts is .less3 #ahe ,*apt] #c c#ca --! ,,fmv :5 y buy ! vehicle2 --4#cj1jjj plus any ,,gst & ,,pst1 or ,,hst1 y wd pay on 4#cj1jjj if y b"\ ! vehicle 9 #bjjf or #bjje2 or --! sell]'s co/ am.t (! vehicle :5 y buy x4 ,! co/ am.t c v>y1 dep5d+ on :at ! sell] us$ ! vehicle = 2f y b"\ x4 ,if ! sell] us$ ! vehicle 6e>n 9come1 ! co/ am.t wd 2 ! ,,ucc (! vehicle :5 y buy x4 ,if ! sell] did n use ! vehicle 6e>n 9come1 ! co/ am.t wd usu,y 2 ! orig9al co/ (! vehicle4 ,= m details on non->m's l5g? transac;ns1 see ,9t]pret,n ,bullet9 ,,it-#dai1 ,m1n+ ( ,>m's ,l5g?4 ,special rules = 4pos+ (a build+ 9 ! ye> ,if y 4pos$ (a build+ 9 ! ye>1 special rules may apply t make ! proce$s ( 4posi;n an am.t o!r ?an ! actual #ahf ,*apt] #c d#ca proce$s ( 4posi;n4 ,? happ5s :5 y meet .bo? (! foll[+ 3di;ns3 --y 4pos$ (! build+ = an am.t less ?an bo? xs co/ am.t1 z calculat$ 2l1 & xs capital co/2 & --y1 or a p]son ) :om y d n d1l at >m's l5g? 7see ! def9i;n on page #bd71 [n$ ! l& t ! build+ is on1 or ! l& next 6x1 : 0 nec =! build+'s use4 ,calculate ! .co/ .am.t z foll[s3 --,if ! build+ 0 ! only prop]ty 9 ! class1 ! co/ am.t is ! undepreciat$ capital co/ 7,,ucc7 (! class 2f y 4pos$ (! build+4 --,if "! is m ?an "o prop]ty 9 ! same class1 y h 6calculate ! co/ am.t ( ea* build+ z foll[s3 capital co/ (! build+ divid$ 0capital co/ ( all prop]ty 9 ! class n previ\sly 4pos$ ( multipli$ 0,,ucc (! class equals co/ am.t (! build+ #ahg ,*apt] #c e#ca ,note ,if any prop]ty 9 ! class (! build+ t 0 acquir$ at non->m's l5g? 0 previ\sly us$ =a purpose o!r ?an ga9+ or produc+ 9come1 or if ! "p (a prop]ty us$ = ga9+ or produc+ 9come has *ang$1 ! capital co/ ( s* prop]ty has 6be recalculat$ 6det]m9e ! co/ am.t (! prop]ty4 ,if y 4pos$ (a build+ "u ^! 3di;ns & y or a p]son ) :om y d n d1l at >m's l5g? 4pos$ (! l& 9 ! same ye>1 calculate yr deem$ proce$s ( 4posi;n z %[n 9 ,calcul,n ;,a on page #cb4 ,if y or a p]son ) :om y d n d1l at >m's l5g? did n 4pose (! l& 9 ! same ye> z ! build+1 calculate yr deem$ proce$s ( 4posi;n z %[n 9 ,calcul,n ;,b on page #cb4 #ahh ,calcul,n ;,a--,l& & build+ #cb sold 9 ! same ye> 7,a7 ,,fmv (! build+ :5 y 4pos$ ( x """""""""""""" 4#---- 7,b7 ,,fmv (! l& j 2f y 4pos$ ( x """""""""""""" 4#---- 7,c7 ,l9e ;,a .plus l9e ;,b """"""""""""""""""""""""""" 4#---- 7,d7 ,sell]'s adju/$ co/ base (! l& """"""""""""" 4#---- 7,e7 ,total capital ga9s 7)\t res]ves7 f any 4posi;n (! l& 7s* z a *ange 9 use7 9 ! ?ree- ye> p]iod 2f y or a p]son n d1l+ at >m's l5g? ) y 4pos$ (! build+ ei 6y or ano!r p]son n d1l+ at >m's l5g? ) y "" 4#---- 7,f7 ,l9e ;,d .m9us l9e ;,e 7if negative1 5t] 8#j07 """""""""""""""""" 4#---- 7,g7 ,l9e ;,b or l9e ;,f1 :i*"e am.t is less """"" 4#---- #ahi ,*apt] #c a#cb 7,h7 ,l9e ;,c .m9us l9e ;,g 7if negative1 5t] 8#j07 """"""""""""""""""""""""" 4#---- 7,i7 ,co/ am.t (! build+ j 2f y 4pos$ ( x """"""""" 4#---- 7,j7 ,capital co/ (! build+ j 2f y 4pos$ ( x 4#---- 7,k7 ,l9e ;,i or l9e ;,j1 :i*"e am.t is less """"" 4#---- 7,l7 ,l9e ;,a or l9e ;,k1 :i*"e am.t is m """"""""""""""" 4#---- ,deem$ proce$s ( 4posi;n (! build+ 7,m7 ,l9e ;,h or l9e ;,l1 :i*"e am.t is less 75t] ? am.t 9 column #c ( ,>ea ;,e1 & 9clude x 9 column #d ( ,>ea ;,a7 """"" 4#---- ,deem$ proce$s ( 4posi;n (! l& 7,n7 ,proce$s ( 4posi;n (! l& & build+ """""""""""""""""""""""" 4#---- 7,o7 ,am.t f l9e ;,m """""""""""" 4#---- #aij ,*apt] #c b#cb 7,p7 ,l9e ;,n .m9us l9e ;,o 79clude ? am.t on l9e #iibd ( ,>ea ;,f7 """"""""""""""""""""" 4#---- ,if y h a t]m9al loss on ! build+1 9clude x on l9e #ibgj1 8,o!r exp5ses10 on ,=m ,t#baba4 ,calcul,n ;,b--,l& & build+ sold 9 di6]5t ye>s 7,a7 ,co/ am.t (! build+ immly 2f y 4pos$ ( x """ 4#---- 7,b7 ,,fmv (! build+ immly 2f y 4pos$ ( x """"""""" 4#---- 7,c7 ,l9e ;,a or l9e ;,b1 :i*"e am.t is m """""""" 4#---- 7,d7 ,actual proce$s ( 4posi;n1 if any """"""""""""""" 4#---- 7,e7 ,l9e ;,c .m9us l9e ;,d """"" 4#---- 7,f7 ,l9e ;,e 4#---- "ts "o-half 4#---- 7,g7 ,am.t f l9e ;,d """""""""""" 4#---- #aia ,*apt] #c c#cb ,deem$ proce$s ( 4posi;n =! build+ 7,h7 ,l9e ;,f .plus l9e ;,g 75t] ? am.t 9 column #c ( ,>ea ;,e & 9clude x 9 column #d ( ,>ea ;,a7 """""""""""""""""""""""""" 4#---- ,if y h a t]m9al loss on ! build+1 9clude x on l9e #ibgj1 8,o!r exp5ses10 on ,=m ,t#baba4 ,ord9>ily1 y c deduct ! full am.t (a t]m9al loss1 b only "p (a capital loss4 ,calcul,n ;,b 5sures t y use ! same factor 6calculate a t]m9al loss on a build+ z y use 6calculate a capital loss on l&4 ,z a result ( ? calcul,n1 y add "p (! am.t on l9e ;,e 6! proce$s ( 4posi;n f ! build+ 7see 8,t]m9al loss0 on page #bg74 #aib ,replace;t prop]ty d#cb ,9 a few cases1 y c po/p"o or def] a4+ a capital ga9 or recapture ( ,,cca 69come4 ,y mi "o1 or yr prop]ty mi "o4 ,y c def] tax on ! am.t ( sale proce$s t y re9ve/ 9 replace;t prop]ty )9 a r1sona# p]iod ( "t4 ,6def] report+ ! ga9 or recapture ( ,,cca1 y m/ acquire & y1 or a p]son relat$ 6y1 m/ use ! new prop]ty =! same or simil> purpose z ! "o1 : y >e replac+4 ,if y ne$ m details1 see ,9t]pret,n ,bullet9s ,,it-#bei1 ,ex*anges ( ,prop]ty1 & ,,it-#dia1 ,=m] ,busi;s ,prop]ty1 & xs ,special ,rel1se4 ,y c al def] a capital ga9 or recapture ( ,,cca :5 y transf] prop]ty 6a corpor,n1 "pn]%ip1 or yr *4 ,= m details on transf]r+ prop]ty 6yr *1 see page #cg4 #aic ,*apt] #c #cc ,= 9=m,n on transf]s 6a corpor,n or a "pn]%ip1 see3 --,9=m,n ,circul> ,,ic#gf-ai1 ,transf] ( ,prop]ty 6a ,corpor,n ,"u ,sec;n #he2 --,9t]pret,n ,bullet9 ,,it-#bia1 ,transf] ( ,prop]ty 6a ,corpor,n ,"u ,subsec;n #he7#a72 --,9t]pret,n ,bullet9 ,,it-#cgh1 ,w9d+-up (a ,"pn]%ip2 & --,9t]pret,n ,bullet9 ,,it-#dac1 ,elec;n 0,memb]s (a ,"pn]%ip ,"u ,subsec;n #ig7#b74 #aid ,*apt] #d--,eligi# capital a#cc exp5ditures ,:at is an eligi# capital exp5diture8 ,y may buy prop]ty t does n physic,y exi/ b gives y a la/+ economic b5efit4 ,"s examples >e gdwill1 fran*ises1 3ces.ns1 or lic;es = an unlimit$ p]iod4 ,we call ? k9d ( prop]ty .eligi# .capital .prop]ty4 ,! price y pay 6buy ? type ( prop]ty is an .eligi# .capital .exp5diture4 ,we 3sid] fran*ises1 3ces.ns1 or lic;es )a limit$ p]iod 6be deprecia# prop]ties1 n eligi# capital prop]ties4 ,= details ab deprecia# prop]ties1 see ,*apt] #c4 ,:at is an annual all[.e8 ,y _c deduct ! full co/ ( an eligi# capital exp5diture1 s9ce x is a capital co/ & gives y a la/+ economic #aie ,*apt] #d b#cc b5efit4 ,h["e1 y c deduct "p ( xs co/ ea* ye>4 ,we call ! am.t y c deduct yr .annual .all[.e4 ,:at is a cumulative eligi# capital 7,,cec7 a3.t8 ,? is ! bookkeep+ record y e/abli% 6det]m9e yr annual all[.e4 ,y al use yr ,,cec a3.t 6keep track (! prop]ty t y buy & sell4 ,we call ! prop]ty 9 yr ,,cec a3.t yr eligi# capital prop]ty4 ,y base yr annual all[.e on ! bal.e 9 yr a3.t at ! 5d ( yr fiscal p]iod4 ,keep a sep>ate a3.t = ea* busi;s4 ,h[ 6calculate yr annual all[.e ,,cec a3.t ,-plete ! foll[+ *>t 6calculate yr annual all[.e &! bal.e 9 yr ,,cec a3.t at ! 5d ( yr #bjjf fiscal p]iod4 #aif ,calculat+ yr annual c#cc all[.e & ,,cec a3.t bal.e at ! 5d ( yr #bjjf fiscal p]iod 7#a7 ,bal.e 9 ! a3.t at ! />t ( yr #bjjf fiscal p]iod """"""""" 4#---- 7#b7 ,eligi# capital exp5ditures y made or 9curr$ 9 yr #bjjf fiscal p]iod 4#---- "ts #ge@3p 4#---- 7#c7 ,l9e #a .plus l9e #b """"""" 4#---- 7#d7 ,all ! am.ts y rcvd or >e 5titl$ 6rcv f ! sale ( eligi# capital prop]ty 9 yr #bjjf fiscal p]iod """"""""""" 4#---- 7#e7 ,all ! am.ts t 2came receiva# 9 yr #bjjf fiscal p]iod f ! sale ( eligi# capital prop]ties 2f ,june #ah1 #aihg """" 4#---- 7#f7 ,l9e #d .plus l9e #e 4#---- 7#g7 ,l9e #f "ts #ge@3p """"""""" 4#---- 7#h7 .,,cec a3.t bal.e4 ,l9e #c .m9us l9e #g """""""""""""""""" 4#---- #aig ,*apt] #d d#cc 7#i7 .,annual .all[.e4 #g@3p "ts l9e #h """""""""""""""""""""""" 4#---- 7#aj7 ..,,cec a3.t bal.e at ! 5d ( yr #bjjf fiscal .p]iod4 ,l9e #h .m9us l9e #i """"""""""""""" 4#---- ,note ,an eligi# capital exp5diture is reduc$ 0! am.t ( any assi/.e rcvd or receiva# f a gov]n;t =! exp5diture4 ,al1 an am.t =giv5 7or 5titl$ 6be =giv57 on gov]n;t debt reduces yr ,,cec a3.t4 ,special 3di;ns may apply 6non->m's l5g? transac;ns4 ,= m 9=m,n1 see ,9t]pret,n ,bullet9 ,,it-#abc1 ,transac;ns ,9volv+ ,eligi# ,capital ,prop]ty4 ,y c deduct an annual all[.e if "! is a .positive bal.e 7l9e #h7 9 yr ,,cec a3.t at ! 5d ( yr #bjjf fiscal p]iod4 ,y d n h 6claim ! full am.t (! annual all[.e =a giv5 ye>4 ,y c deduct any am.t y want1 up 6! maximum all[a# ( #aih ,*apt] #d e#cc #g@3p4 ,if yr fiscal p]iod is less ?an #cfe "ds1 y h 6prorate yr claim4 ,base yr claim on ! numb] ( "ds 9 yr fiscal p]iod -p>$ 6#cfe "ds4 ,if "! is a .negative bal.e 9 yr ,,cec a3.t1 see 8,sale ( eligi# capital prop]ty 9 ! #bjjf fiscal p]iod0 on page #cd4 ,! foll[+ is an example ( h[ 6calculate ! annual all[.e & a3.t bal.e4 -------------------------------------#cd ,example ,lor9 />t$ a fi%+ busi;s on ,janu>y #a1 #bjjf4 ,lor9's busi;s has a ,decemb] #ca ye>-5d4 ,dur+ #bjjf1 %e b"\ a fi%+ p]mit = 4#af1jjj4 ,%e calculates h] maximum annual all[.e ( 4#hdj = #bjjf z foll[s3 #aii ,*apt] #d a#cd ,lor9's ,,cec a3.t 7#a7 ,bal.e at ! />t ( h] #bjjf fiscal p]iod """""""""""""""" 4#j.jj 7#b7 ,eligi# capital exp5diture3 7fi%+ p]mit co/ =! #bjjf fiscal p]iod7 4#af1jjj "ts #ge@3p """"""" 4#ab1jjj 7#c7 ,l9e #a .plus l9e #b """ 4#ab1jjj ,lor9 has n sold any eligi# capital prop]ty dur+ ! #bjjf fiscal p]iod4 ,"!=e1 %e w n h any am.ts on l9es #d 6#h4 7#i7 ,maximum annual all[.e #g@3p "ts l9e #c """"""""""""" 4#hdj 7#aj7 ,bal.e at ! 5d ( #bjjf4 ,l9e #c .m9us l9e #i """""" 4#aa1afj ,sale ( eligi# capital prop]ty 9 ! #bjjf fiscal p]iod ,:5 y sell eligi# capital prop]ty1 y h 6subtract "p (! proce$s ( 4posi;n f yr ,,cec a3.t4 #bjj ,*apt] #d b#cd ,y h 6d ? calcul,n if y sold eligi# capital prop]ty3 --in yr #bjjf fiscal p]iod2 or --2f ,june #ah1 #aihg1 &! proce$s ( 4posi;n 2come due 6y 9 yr #bjjf fiscal p]iod4 ,= #bjjf1 ! am.t y h 6subtract is #ge@3p (! .total ( ^! am.ts3 --! proce$s ( 4posi;n ( all ! eligi# capital prop]ty y sell 9 yr #bjjf fiscal p]iod 79clude ! am.t f a sale ev5 if y d n get any or all (! proce$s until af #bjjf72 & --! am.t ( any proce$s t 2come due 6y 9 yr #bjjf fiscal p]iod f eligi# capital prop]ty y sold 2f ,june #ah1 #aihg4 ,"! may 2 a negative am.t 7excess7 9 yr ,,cec a3.t af y subtract ! requir$ am.t4 ,9 ? case1 y w h 69clude "p (! negative am.t 9 yr busi;s 9come4 ,multiply 0two-?irds ! "p (! negative am.t 9 yr ,,cec a3.t t exce$s ! annual all[.es deduct$4 ,6t result1 add #bja ,*apt] #d c#cd :i*"e is less1 ! excess or annual all[.es deduct$4 ,? is ! am.t 69clude 9 yr busi;s 9come4 ,! foll[+ example %[s h[ 6calculate ! am.t 69clude 9 yr busi;s 9come4 ,example ,bill has op]at$ a fi%+ busi;s s9ce ,janu>y #a1 #bjjj1 )a .,decemb] .#ca ye>-5d4 ,9 #bjjj1 ,bill b"\ a fi%+ p]mit = 4#aj1jjj4 ,bill sold 8 busi;s on ,septemb] #a1 #bjjf4 ,he sold 8 fi%+ p]mit = 4#ae1jjj & he does n h any o!r eligi# capital prop]ty 9 8 busi;s4 ,he deduct$ annual all[.es ea* ye> z foll[s3 #bjjj "" 4#ebe #bjja "" 4#dhh #bjjb "" 4#ded #bjjc "" 4#dbb #bjjd "" 4#cic #bjje "" 4#cfe ,total 4#b1fdg #bjb ,*apt] #d d#cd ,! am.t ,bill w 9clude 9 busi;s 9come on ! 8,o!r 9come0 l9e ( ,=m ,t#baba is ! total ( ;,a & ;,c3 ,calculat+ am.t ;,a ,! less] ( excess am.t ;i7 & total annual all[.es deduct$ ;ii7 ;i7 ,excess am.t calculat$ z foll[s3 ,proce$s ( 4posi;n3 4#ae1jjj 4#ae1jjj "ts #ge@3p """"""" 4#aa1bej .,plus3 ,total annual all[.es deduct$ """""""""""" 4#b1fdg 74#aa1bej plus 4#b1fdg7 """ 4#ac1hig .,m9us3 #ge@3p ( eligi# capital exp5ditures 4#aj1jjj "ts #ge@3p """""""" 4#g1ejj 7;i7 ,excess am.t """""""""""" 4#f1cig ;ii7 & 7;ii7 ,total annual all[.es deduct$ """""""""""""" 4#b1fdg 7,a7 ,! less] ( ;i7 & ;ii7 """"" 4#b1fdg #bjc ,*apt] #d e#cd ,calculat+ am.t ;,b ,excess am.t """"""""""" 4#f1cig 7,b7 .,m9us3 ,total annual all[.es deduct$ 4#b1fdg 4#c1gej ,calculat+ am.t ;,c 7,c7 ,l9e ;,b "ts two-?irds """" 4#b1ejj ,l9e ;,a .plus l9e ;,c """"""""" 4#e1adg ,! am.t 6be 9clud$ 9 ,bill's busi;s 9come on ! 8,o!r 9come0 l9e ( ,=m ,t#baba is 4#e1adg4 ,exempt capital ga9s bal.e 7,,ecgb7 ,if y fil$ a ,=m ,t#ffd1 ,elec;n 6,report a ,capital ,ga9 on ,prop]ty ,[n$ at ! ,5d ( ,febru>y #bb1 #aiid1 = yr %>es (1 or 9t]e/ in1 a fl[-"? 5t;y1 ! elect$ capital ga9 y report$ cr1t$ an ,,ecgb = t 5t;y4 ,yr ,,ecgb .expir$ .af .#bjjd4 ,if y did n use all ( yr ,,ecgb 0! 5d ( #bjd ,*apt] #d f#cd #bjjd1 y %d h a4$ ! unus$ bal.e 6! adju/$ co/ base (! applica# prop]ty 9 ! ye> #bjje4 -------------------------------------#ce ,elec;n ,"u c]ta9 3di;ns1 y c elect 6tr1t ! 4posi;n ( an eligi# capital prop]ty 7o!r ?an gdwill7 z a capital ga9 9 yr ,,cec a3.t if y sold yr 9t]e/ 9 prop]ty1 s* z a fran*ise1 3ces.n1 or lic;e t has an unlimit$ life4 ,y c elect 6deem ! proce$s ( 4posi;n (! eligi# capital prop]ty 6be equal 6xs orig9al co/4 ,y c !n dcl a capital ga9 equal 6yr actual proce$s ( 4posi;n m9us ! co/ ( acquisi;n4 ,report ! details on ! 8,r1l ,e/ate1 deprecia# prop]ty1 & o!r prop]ties0 l9e ( ,s*$ule #c1 ,capital ,ga9s 7or ,losses7 9 #bjjf4 ,? elec;n w b5efit y if y h unus$ capital losses 6apply ag/ ! capital ga94 ,! elec;n is availa# if y meet ! foll[+ 3di;ns3 #bje ,*apt] #d a#ce --y 4pos$ ( an eligi# capital prop]ty o!r ?an gdwill2 --! co/ (! eligi# capital prop]ty c 2 det]m9$2 --! proce$s ( 4posi;n exce$ ! co/2 & --y d n h an exempt capital ga9s bal.e4 ,file yr elec;n 0atta*+ a note 6yr 9come tax & b5efit return4 ,replace;t prop]ty ,if y sell an eligi# capital prop]ty & replace x ) ano!r "o =! same or simil> use1 y c po/p"o all or "p ( any ga9 on ! sale4 ,? happ5s if y acquire a replace;t eligi# capital prop]ty )9 a c]ta9 p]iod ( "t4 ,6d ?1 y h 6replace ! prop]ty no lat] ?an "o ye> af ! 5d (! tax ye> 9 : y sell ! orig9al prop]ty4 ,= m details1 see ,9t]pret,n ,bullet9 ,,it-#bei1 ,ex*anges ( ,prop]ty4 #bjf ,eligi# capital prop]ty (a b#ce dec1s$ taxpay] ,^u d1?1 a taxpay] is deem$ 6h 4pos$ ( eligi# capital prop]ty immly prior 6d1?1 = proce$s ( 4posi;n equal 6f\r-?irds (! cumulative eligi# capital prop]ty at t "t4 ,! p]son :o acquires ! eligi# capital prop]ty f ! dec1s$ is deem$ 6acquire x at ! deem$ 4posi;n am.t m5;n$ 9 ! previ\s p>agraph4 ,= m 9=m,n ab eligi# capital exp5ditures1 see ,9t]pret,n ,bullet9 ,,it-#abc1 ,transac;ns ,9volv+ ,eligi# ,capital ,prop]ty1 & ,9t]pret,n ,bullet9 ,,it-#adc1 ,m1n+ ( ,eligi# ,capital ,exp5diture4 #bjg c#ce #bjh ,*apt] #e--,fi%+ losses d#ce ,:5 yr fi%+ exp5ses >e m ?an yr fi%+ 9come 9 a ye>1 y h a net loss4 ,if yr net loss f fi%+ is hi<] ?an yr o!r 9come 9 ! curr5t ye>1 y w 2 a# 6c>ry back or c>ry =w>d ! bal.e 6reduce yr taxes 9 o!r ye>s4 ,= example1 assume t 9 #bjjf yr fi%+ 9come 0 4#ah1jjj & yr total fi%+ exp5ses 7 4#be1jjj4 ,"!=e1 yr net loss f fi%+ 0 4#g1jjj ,74#ah1jjj m9us 4#be1jjj equals 74#g1jjj77'4 ,al1 assume t 9 #bjjf y _h employ;t 9come ( 4#b1jjj4 ,6*eck if y >e a# 6c>ry back or c>ry =w>d "p ( ? loss1 y subtract yr o!r 9come 9 #bjjf f yr #bjjf net loss f fi%+ 74#g1jjj m9us 4#b1jjj equals 4#e1jjj74 ,9 ? example1 y wd 2 a# 6c>ry back or c>ry =w>d a loss ( 4#e1jjj4 #bji ,fi%+ & non-capital losses e#ce ,fi%+ losses ,y may h net fi%+ 9come 9 #bjjf 9/1d (a fi%+ loss4 ,if s1 y may 2 a# 6apply 6yr #bjjf 9come tax & b5efit return fi%+ losses y _h f #aiif 6#bjje4 ,y c apply ^! losses z l;g z y did n alr deduct !m4 ,y h 6apply ! loss f ! e>lie/ ye> f/ 2f y apply ! losses f lat] ye>s4 ,5t] ! am.t on l9e #beb ( yr 9come tax & b5efit return4 ,y may h a fi%+ loss 9 #bjjf4 ,if y d1 y c c>ry back ? loss = #c ye>s or c>ry x =w>d = up 6#aj ye>s4 ,6c>ry back a #bjjf loss1 -plete ,=m ,t#a;,a1 ,reque/ = ,loss ,c>ryback & atta* "o copy (! =m 6yr #bjjf 9come tax & b5efit return4 .,d .n file an am5d$ 9come tax & b5efit return =! ye> 6: y want 6apply ! loss4 #baj ,non-capital losses f#ce ,y may h 9curr$ a loss 9 #bjjf f a busi;s t 0 n fi%+4 ,if ? loss is m ?an yr o!r 9come =! ye>1 y may h a non- capital loss4 ,use ,=m ,t#a;,a1 ,reque/ = ,loss ,c>ryback 6calculate yr #bjjf non-capital loss4 ,y c c>ry back yr #bjjf non-capital loss up 6?ree ye>s4 ,if y *oose 6c>ry back yr #bjjf non-capital loss 6yr #bjjc1 #bjjd1 or #bjje 9come tax & b5efit return1 -plete ,=m ,t#a;,a & atta* "o copy (! =m 6yr #bjjf 9come tax & b5efit return4 .,d .n file an am5d$ 9come tax & b5efit return =! ye> 6: y want 6apply ! non-capital loss4 ,! c>ry-=w>d p]iod = non-capital losses 9curr$ 9 tax ye>s 5d+ 2f ,m>* #bc1 #bjjd1 is sev5 ye>s4 ,! c>ry-=w>d p]iod = non-capital losses 9curr$ 9 tax ye>s 5d+ af ,m>* #bb1 #bjjd1 & 2f ,janu>y #a1 #bjjf1 is #aj ye>s4 #baa ,*apt] #e #cf ,/>t \tl9e ,! c>ry-=w>d p]iod = losses 9curr$ & cr$its e>n$ 9 tax ye>s t 5d af #bjje has be5 ext5d$ f #aj ye>s 6#bj ye>s4 ,5d \tl9e ,= m details on non-capital losses1 see ,9t]pret,n ,bullet9 ,,it-#bcb1 ,losses--,_! ,deductibil;y 9 ! ,loss ,ye> or 9 ,o!r ,ye>s4 #bab ,*apt] #f--,capital ,ga9s a#cf ,? *apt] expla9s ! capital ga9s rules = p :o fi%4 ,we cov] ! g5]al capital ga9s rules 9 ,guide ,t#djcg1 ,capital ,ga9s4 ,previ\sly1 :5 an 9dividual 79clud+ c]ta9 tru/s7 4pos$ ( prop]ty us$ 9 a fi%+ busi;s1 ! prop]ty 0 .n eligi# =! foll[+ rules3 --! 9t]g5],nal rollov] rules2 --! life"t capital ga9s exemp;n 7,,lcge72 & --a res]ve all[$ on c]ta9 4posi;ns 7#aj-ye> capital ga9s res]ve74 ,/>t \tl9e ,= 4posi;ns o3urr+ af ,may #a1 #bjjf1 ! budget proposes 6ext5d ^! rules 6c]ta9 prop]ty us$ 9 a fi%+ busi;s1 simil> 6! way ^! rules g5],y apply 6! 4posi;n ( f>m+ prop]ty 7def9i;ns ( t]ms w p>allel ! exi/+ def9i;ns 9 #bac ,*apt] #f b#cf ! ,9come ,tax ,act t apply 6! 4posi;n ( f>m+ prop]ty74 ,5d \tl9e ,li/ ! 4posi;ns ( all yr prop]ties on ,s*$ule #c1 ,capital ,ga9s 7or ,losses7 9 #bjjf4 ,y c get ? s*$ule & o!r =ms & public,ns f \r ,web site at _+www.cra.gc.ca/forms_:1 or 0call+ u at #a-hjj-iei-bbba4 ,y may 2 a "pn] 9 a "pn]%ip t provides y )a ,t#ejac or ,t#ejac;,a 9=m,n slips4 ,if ! "pn]%ip has a capital ga91 ! "pn]%ip w allocate "p ( t ga9 6y4 ,! ga9 w 2 report$ on ! "pn]%ip's f9ancial /ate;ts or on yr ,t#ejac or ,t#ejac;,a 9=m,n slips4 ,:at is a capital ga98 ,y h a capital ga9 :5 y sell1 or >e 3sid]$ 6h sold1 a capital prop]ty = .m ?an xs adju/$ co/ base .plus ! exp5ses or \tlays y 9curr$ 6sell ! #bad ,*apt] #f c#cf prop]ty4 ,6calculate yr capital ga91 subtract ! adju/$ co/ base ( yr prop]ty f ! proce$s ( 4posi;n4 ,f ? am.t1 subtract any \tlays or exp5ses y 9curr$ :5 sell+ yr prop]ty4 ,9 mo/ cases1 capital prop]ty 9cludes l&1 build+s1 & equip;t t y us$ 9 yr fi%+ busi;s4 ,"!=e1 capital prop]ty 9cludes deprecia# & non-deprecia# prop]ty4 ,y h 69clude yr taxa# capital ga9 9 yr 9come4 ,n all ( yr capital ga9 is taxa#4 ,= #bjjf yr taxa# capital ga9 is "o-half ( yr capital ga94 ,a 4posi;n ( deprecia# prop]ty may result 9 a recapture ( capital co/ all[.e 7,,cca74 ,we expla9 recapture on page #bg4 ,:at is a capital loss8 ,y h a capital loss :5 y sell1 or >e 3sid]$ 6h sold1 non-deprecia# capital prop]ty = .less ?an xs adju/$ co/ base .plus ! exp5ses or \tlays y #bae ,*apt] #f d#cf 9curr$ 6sell ! prop]ty4 ,6calculate yr capital loss1 subtract ! adju/$ co/ base ( yr prop]ty f ! proce$s ( 4posi;n4 ,f ? am.t1 subtract any \tlays or exp5ses y 9curr$ :5 sell+ yr prop]ty4 ,n all ( yr capital loss is deducti#4 ,= #bjjf1 yr all[a# capital loss is "o- half ( yr capital loss4 ,y c only deduct an all[a# capital loss f a taxa# capital ga94 ,a loss on a 4posi;n ( deprecia# prop]ty may only result 9 a t]m9al loss4 ,we expla9 t]m9al loss on page #bg4 ,def9i;ns ,2f y c det]m9e yr capital ga9 or loss1 y w ne$ 6"k ! foll[+ t]ms4 ,proce$s ( 4posi;n--,in mo/ cases1 ! proce$s ( 4posi;n is ! sale price (! prop]ty4 ,we def9e ? t]m on page #bd4 ,adju/$ co/ base 7,,acb7--,! ,,acb is usu,y ! orig9al co/ (! prop]ty 79clud+ am.ts y pd 6buy x1 s* z -mis.ns & #baf ,*apt] #f e#cf legal fees74 ,,acb 9cludes o!r co/s1 s* z ! co/ ( any a4i;ns or ! co/ 6r5ovate or improve ! prop]ty4 ,\tlays & exp5ses--,\tlays & exp5ses >e co/s y 9curr$ 6sell yr prop]ty4 ,^! 9clude co/s s* z -mis.ns1 surveyors' fees1 transf] taxes1 & adv]tis+ co/s4 ,fair m>ket value 7,,fmv7--,? is g5],y ! hi value y c get = yr prop]ty4 ,we def9e ? t]m on page #bd4 ,h[ 6calculate yr capital ga9 or loss ,6calculate yr capital ga9 or loss1 use ! foll[+ =mula3 7,a7 ,proce$s ( 4posi;n """"""""" 4#---- 7,b7 ,adju/$ co/ base """"""""""" 4#---- 7,c7 ;,a .m9us ;,b """""""""""""" 4#---- 7,d7 ,\tlays & exp5ses """""""""" 4#---- 7,e7 ;,c .m9us ;,d equals ,capital ga9 7loss7 """"""""""" 4#---- #bag ,*apt] #f f#cf ,note ,y h 6calculate ! capital ga9 or loss on ea* prop]ty sep>ately4 -------------------------------------#cg ,qualifi$ fi%+ prop]ty & cumulative capital ga9s deduc;n ,if y h a taxa# capital ga9 f ! sale ( qualifi$ fi%+ prop]ty1 y may 2 a# 6claim a capital ga9s deduc;n4 ,/>t \tl9e ,! f$]al budget proposes 6give 9dividuals a3ess 6! 4#ejj1jjj life"t capital ga9s exemp;n 7,,lcge7 on capital ga9s >is+ f ! 4posi;n ( qualifi$ fi%+ prop]ty = am.ts t 2come receiva# on or af ,may #b1 #bjjf4 ,5d \tl9e ,= details on h[ 6calculate yr capital ga9s deduc;n1 see ,=m ,t#feg1 #bah ,*apt] #f a#cg ,calcul,n ( ,capital ,ga9s ,deduc;n = #bjjf1 & ,=m ,t#icf1 ,calcul,n ( ,cumulative ,net ,9ve/;t ,loss 7,,cnil7 6,decemb] #ca1 #bjjf4 ,y may 2 a "pn] 9 a "pn]%ip t sold capital prop]ty4 ,9 ? case1 ! "pn]%ip 9cludes any taxa# capital ga9 9 xs 9come4 ,h["e1 z a "pn]1 y c only claim ! capital ga9s deduc;n = yr %>e (! ga9 on qualifi$ fi%+ prop]ty4 ,:at is qualifi$ fi%+ prop]ty8 ,qualifi$ fi%+ prop]ty is c]ta9 prop]ty y1 yr sp\se1 or -mon-law "pn] [n4 ,x is al c]ta9 prop]ty [n$ 0a family-fi%+ "pn]%ip 9 : y1 yr sp\se1 or -mon-law "pn] holds an 9t]e/4 ,we def9e sp\se & -mon-law "pn] 9 ! ,g5]al ,9come ,tax & ,b5efit ,guide4 ,qualifi$ fi%+ prop]ty 9cludes3 --r1l prop]ty or a fi%+ vessel t 0 us$ pr9cip,y 9 ! c\rse ( c>ry+ on #bai ,*apt] #f b#cg ! busi;s ( fi%+ 0a qualifi$ 5t;y 9 respect (! 9dividual2 --a %>e (! capital /ock (a family fi%+ corpor,n (! 9dividual or ! 9dividual's sp\se or -mon-law "pn]2 --an 9t]e/ 9 a family fi%+ "pn]%ip (! 9dividual or ! 9dividual's sp\se or -mon-law "pn]2 or --an eligi# capital prop]ty us$ 0a qualifi$ 5t;y 9 respect (! 9dividual 7or 0a p]sonal tru/ f : ! 9dividual acquir$ ! prop]ty7 9 ! c\rse ( c>ry+ on ! busi;s ( fi%+ 9 ,canada4 ,= ? purpose1 a .qualifi$ .5t;y 9 respect ( an 9dividual m1ns3 a7 ! 9dividual2 b7 ": ! 9dividual is a p]sonal tru/1 a b5efici>y (! tru/ t is 5titl$ 6rcv directly f ! tru/ any 9come or capital (! tru/2 c7 a sp\se or -mon-law "pn]1 * or p>5t (! 9dividual2 #bbj ,*apt] #f c#cg d7 a corpor,n1 a %>e (! capital /ock ( : is a %>e (! capital /ock (a family fi%+ corpor,n ( an 9dividual ref]r$ 6in any ( 7a7 to 7c72 or e7 a "pn]%ip1 an 9t]e/ 9 : is an 9t]e/ 9 a family fi%+ "pn]%ip ( an 9dividual ref]r$ 6in any ( 7a7 to 7c74 ,r1l prop]ty or eligi# capital prop]ty ,r1l prop]ty or eligi# capital prop]ty is qualifi$ fi%+ prop]ty only if x is us$ 6c>ry on a fi%+ busi;s 9 ,canada 0any ."o (! foll[+3 --y1 yr sp\se or -mon-law "pn]1 or any ( yr p>5ts or *n 7we def9e *n 2l72 --! b5efici>y (a p]sonal tru/1 or ! sp\se or -mon-law "pn]1 p>5t1 or * ( s* a b5efici>y2 #bba ,*apt] #f d#cg --a family-fi%+ corpor,n ": any (! abv p]sons [ns a %>e (! corpor,n2 or --a family-fi%+ "pn]%ip ": any (! abv p]sons 7except a family-fi%+ corpor,n7 [ns an 9t]e/ 9 ! "pn]%ip4 ,we w al 3sid] r1l or eligi# capital prop]ty 6be us$ 6c>ry on a fi%+ busi;s 9 ,canada if y meet ! foll[+ 3di;ns3 --,"?\t ! p]iod ( at l1/ #bd mon?s 2f ! 4posi;n1 y1 yr sp\se or -mon-law "pn]1 any ( yr *n or p>5ts1 a p]sonal tru/ f : "o ( ^! p]sons acquir$ ! prop]ty1 or a family-fi%+ "pn]%ip 7in : any ( ^! p]sons has an 9t]e/7 m/ h [n$ ! prop]ty2 & --,y meet ."o (! foll[+ two 3di;ns3 --! prop]ty or ! prop]ty x replac$ 0 us$ ma9ly 9 a fi%+ busi;s 9 ,canada 9 : any (! abv p]sons 0 actively 5gag$ on a regul> & ongo+ basis4 ,al1 = at l1/ #bd mon?s ( [n]%ip1 =! p]son t [n$ ! #bbb ,*apt] #f e#cg prop]ty1 t p]son's gross 9come f ! fi%+ busi;s 0 l>g] ?an t p]son's 9come f all o!r s\rces 9 ! ye>2 or --a family-fi%+ "pn]%ip or corpor,n us$ ! prop]ty = at l1/ #bd mon?s1 ma9ly 6c>ry on a fi%+ busi;s 9 ,canada4 ,al1 dur+ ? "t1 y1 yr sp\se or -mon-law "pn]1 any ( yr *n1 or yr p>5ts m/ h be5 actively 5gag$ on a regul> & ongo+ basis 9 ! fi%+ busi;s4 ,transf] ( fi%+ prop]ty 6a * ,y may 2 a# 6transf] ,canadian fi%+ prop]ty 6yr *4 ,:5 y d ?1 y c po/p"o tax on any taxa# capital ga9 & any recapture ( capital co/ all[.e until ! * sells ! prop]ty4 ,6d ?1 .bo? ( ^! 3di;ns h 6be met3 --yr * is a resid5t ( ,canada j 2f ! transf]2 & --! fi%+ prop]ty 0 us$ ma9ly 9 a fi%+ busi;s 9 : y1 yr sp\se #bbc ,*apt] #f f#cg or -mon-law "pn]1 or any ( yr *n 7 actively 5gag$ on a regul> & ongo+ basis 2f ! transf]4 ,yr .*n 9clude3 --yr natural *1 yr adopt$ *1 or yr sp\se's or -mon-law "pn]'s *2 -------------------------------------#ch --yr gr&*ild or grt-gr&*ild2 --yr *'s sp\se or -mon-law "pn]2 & --ano!r p]son :o is :olly dep5d5t on y = support & :o is1 or 0 immly 2f ! age ( #ai1 9 yr cu/ody & "u yr 3trol4 ,! foll[+ types ( prop]ty qualify = ? type ( transf]3 --l& us$ 9 a fi%+ busi;s2 --deprecia# prop]ty1 9clud+ build+s2 & --eligi# capital prop]ty4 ,fur!rmore1 a %>e (! capital /ock (a family-fi%+ corpor,n & an 9t]e/ 9 a family-fi%+ "pn]%ip al qualify = ? transf] if yr * is a resid5t ( ,canada j 2f ! transf]4 #bbd ,*apt] #f a#ch ,= deprecia# prop]ty1 ! transf] price c 2 any am.t 2t xs undepreciat$ capital co/ 7,,ucc7 & xs fair m>ket value 7,,fmv74 ,9 ! case ( l&1 ! transf] price c 2 any am.t 2t xs adju/$ co/ base 7,,acb7 & xs ,,fmv4 ,= eligi# capital prop]ty1 ! transf] price c 2 any am.t 2t3 --xs ,,fmv2 & --f\r-?irds multipli$ 0yr cumulative eligi# capital prop]ty f ! fi%+ busi;s multipli$ 0,,fmv (! prop]ty divid$ 0,,fmv ( all yr eligi# capital prop]ty f ! fi%+ busi;s ,example ,wade wants 6transf] ^! fi%+ prop]ties 6,vicky1 8 #ai-ye>-old dau5t dies 9 ! ye> ,we all[ a tax-free transf] (a dec1s$ taxpay]'s ,canadian fi%+ prop]ty 6a * if .all ( ^! 3di;ns >e met3 --! * 0 resid5t 9 ,canada j 2f ! p>5t's d1?2 --! prop]ty 0 us$ ma9ly 9 a fi%+ busi;s on a regul> & ongo+ basis 0! dec1s$1 ! dec1s$'s sp\se or -mon-law "pn]1 or any (! *n 2f ! p>5t's d1?2 & --! prop]ty 0 transf]r$ 6! * no lat] ?an #cf mon?s af ! p>5t's d1?4 ,9 "s cases1 we may all[ ! transf] ev5 if x took place lat] ?an #cf mon?s af ! p>5t's d1?4 ,! foll[+ types ( fi%+ prop]ty qualify = ? transf]3 --l& or deprecia# prop]ty us$ 9 a fi%+ busi;s2 & --a %>e (! capital /ock (a family- fi%+ corpor,n1 & an 9t]e/ 9 a family-fi%+ "pn]%ip4 #bbg ,*apt] #f d#ch ,= mo/ prop]ty1 ! transf] price c 2 any am.t 2t ! ,,acb & xs ,,fmv4 ,= deprecia# prop]ty1 ! transf] price c 2 an am.t 2t ! prop]ty's ,,fmv &a special am.t4 ,= m 9=m,n1 see ,*apt] #d1 8,deem$ 4posi;n ( prop]ty10 9 ,guide ,t#djaa1 ,prep>+ ,returns = ,dec1s$ ,p]sons4 ,! dec1s$'s legal repres5tative w *oose ! am.t 9 ! ye> ( d1?4 ,we 3sid] ! * 6acquire ^! prop]ties at ! am.t *os54 ,simil> rules apply = prop]ty t a dec1s$ p]son l1s$ 6! family-fi%+ corpor,n or "pn]%ip4 ,= eligi# capital prop]ty1 ! transf] am.t is equal 6f\r-?irds (! cumulative eligi# capital prop]ty at t "t4 ,see 8,eligi# ,capital ,prop]ty (a ,dec1s$ ,taxpay]0 on page #ce4 ,if a * gets a fi%+ prop]ty f a p>5t &! * lat] dies1 ! prop]ty c 2 transf]r$ 6! surviv+ p>5t bas$ on ! same rules4 ,%>es or o!r prop]ty (a family-fi%+ hold+ corpor,n c al 2 transf]r$1 #bbh ,*apt] #f e#ch bas$ on ! same rules1 f a sp\se or -mon- law "pn] tru/ 6a * (! settlor4 ,! settlor is ! p]son :o sets up a tru/1 or ! p]son :o transf]s prop]ty 6a tru/4 ,transf] ( fi%+ prop]ty 6a sp\se or -mon-law "pn] ,a fi%] c transf] capital fi%+ prop]ty 6a sp\se or -mon-law "pn] or 6a sp\sal or -mon-law "pn] tru/ dur+ ! fi%]'s life"t4 ,at ! "t (! transf]1 ! fi%] c po/p"o any taxa# capital ga9 or recapture ( ,,cca4 -------------------------------------#ci ,if ! sp\se or -mon-law "pn] lat] 4poses (! prop]ty1 ! fi%] g5],y has 6report any taxa# capital ga91 n ! sp\se or -mon-law "pn]4 ,? rule applies 6transf]s made af #aiga ": ! fi%] is liv+ at ! "t ! sp\se or -mon-law "pn] sells ! prop]ty4 ,h["e1 "! >e excep;ns 6? rule4 ,= m details1 see ,9t]pret,n ,bullet9 ,,it-#eaa1 ,9t]sp\sal & #bbi ,*apt] #f a#ci ,c]ta9 ,o!r ,transf]s & ,loans ( ,prop]ty4 ,a transf] ( fi%+ prop]ty c al o3ur af ! fi%] dies4 ,= m 9=m,n1 see ,*apt] #d1 8,deem$ 4posi;n ( prop]ty0 9 ,guide ,t#djaa1 ,prep>+ ,returns = ,dec1s$ ,p]sons4 ,o!r special rules ,y may al 2 a# 6po/p"o pay+ tax on capital ga9s 9 ! foll[+ situ,ns4 ,res]ves ,:5 y 4pose (a capital prop]ty1 y usu,y rcv full pay;t at t "t4 ,h["e1 "s"ts y rcv ! am.t ov] a numb] ( ye>s4 ,g5],y1 a res]ve all[s y 6def] report+ "p (! capital ga9 6! ye> 9 : y rcv ! proce$s4 ,= example1 y may sell a boat = 4#ej1jjj & rcv 4#aj1jjj at ! "t (! sale4 ,y rcv ! rema9+ 4#dj1jjj ov] f\r #bcj ,*apt] #f b#ci ye>s4 ,9 ? situ,n1 y c claim a res]ve4 ,h["e1 "! is a limit 6! numb] ( ye>s y c d ?4 ,/>t \tl9e ,! maximum res]ve p]iod is g5],y limit$ 6five ye>s4 ,! #bjjf f$]al budget proposes 69cr1se ! maximum res]ve p]iod 6#aj ye>s = transf]s ( fi%+ prop]ty 6an 9dividual's * or gr&*ild4 ,5d \tl9e ,= m 9=m,n on res]ves1 see ,guide ,t#djcg1 ,capital ,ga9s1 & ,=m ,t#bjag1 ,summ>y ( ,res]ves on ,4posi;ns ( ,capital ,prop]ty4 ,ex*anges or expropri,ns ( prop]ty ,"! >e special rules t apply :5 y 4pose (a prop]ty & replace x )a simil> "o1 or :5 "s"o expropriates yr #bca ,*apt] #f c#ci prop]ty4 ,= m details1 see ,9t]pret,n ,bullet9s ,,it-#bei1 ,ex*anges ( ,prop]ty & ,,it-#dia1 ,=m] ,busi;s ,prop]ty1 & xs ,special ,rel1se4 #bcb ,capital co/ all[.e 7,,cca7 #dj rates ,? is a li/ (! m -mon deprecia# prop]ties a fi%+ busi;s may use &! relat$ class = ea* type ( prop]ty4 ,we %[ ! ,,cca rates at ! 5d (! li/4 ,deprecia# prop]ty """"""""" ,class ,no4 ,automobiles """"""""""""""""""""""" #aj ,boats & -pon5t "ps """"""""""""""""" #g ,br1kwat]s ,ce;t or /"o """""""""""""""""""""" #c ,wood """"""""""""""""""""""""""""" #f ,build+s & -pon5t "ps ,wood1 galvaniz$1 or porta# """"""" #f ,o!r3 ,acquir$ af #aigh & 2f #aihh 99 """""""""""""""""""""" #c ,acquir$ af #aihg """"""""""""""" #a ,*a9 saws """""""""""""""""""""""""" #aj ,-put] equip;t & sy/ems s(tw>e ,acquir$ 2f ,m>* #bc1 #bjjd """""" #aj ,acquir$ af ,m>* #bb1 #bjjd """""" #de #bcc ,,cca rates a#dj ,-put] s(tw>e 7o!r ?an sy/ems s(tw>e7 """"""""""""""""""""""""""" #h ,data net"w 9fra/ructure equip;t ,acquir$ af ,m>* #bb1 #bjjd """""" #df ,docks ,ce;t1 /eel1 /"o1 or wood """"""""" #c ,drills--,all types """"""""""""""""" #h ,electric-g5]at+ equip;t 7n m ?an #ae k,w7 """""""""""""""""""""""""" #h ,electric motors """""""""""""""""""" #h ,5g9es--,/,n>y """""""""""""""""""""" #h ,ice ma*9es """"""""""""""""""""""""" #h ,l1sehold 9t]e/ """""""""""""""""""" #ac ,nets """"""""""""""""""""""""""""""" #h ,(fice equip;t 9clud+ photocopi]s1 fax ma*9es """""""""""""""""""""""" #h ,\tbo>d motors """"""""""""""""""""" #aj ,pass5g] vehicles 7see ,*apt] #c7 """""""""""""" #aj or #aj.a ,p[] block--,purse se9e """"""""""""" #g ,pumps """""""""""""""""""""""""""""" #h ,rad> or radio equip;t ,acquir$ 2f ,may #bf1 #aigf """"""" #i #bcd ,,cca rates b#dj ,acquir$ af ,may #be1 #aigf """"""" #h ,tools ,"u 4#bjj 74#ejj af ,may #a1 #bjjf1 z propos$7 """""""""""""" #ab 4#bjj & ov] 74#ejj af ,may #a1 #bjjf1 z propos$7 """"""""""""""" #h ,trail]s """"""""""""""""""""""""""" #aj ,traps """""""""""""""""""""""""""""" #h ,trucks """""""""""""""""""""""""""" #aj ,weirs """""""""""""""""""""""""""""" #c ,weirs--,fi% """""""""""""""""""""""" #h ,weld+ equip;t """""""""""""""""""""" #h ,:>ves ,ce;t1 /eel1 or /"o """"""""""""""" #c ,wood """"""""""""""""""""""""""""" #f ,w9d*>g]s """"""""""""""""""""""""""" #h 99 ,y may add 6or alt] a ,class #c build+ af #aihg4 ,9 ? case1 "! is a limit on ! am.t y c 9clude 9 ,class #c4 ,! mo/ y c 9clude 9 ,class #c is :i*"e is less3 4#ejj1jjj or #be@3p (! build+'s co/ on ,decemb] #ca1 #aihg4 #bce ,,cca rates c#dj ,9clude 9 ,class #a any co/s y 9cur t >e ov] ? limit4 ,rates--,"p ,,xi ,class #a #d@3p ,class #b #f@3p ,class #c #e@3p ,class #f #aj@3p ,class #g #ae@3p ,class #h #bj@3p ,class #i #be@3p ,class #aj #cj@3p ,class #aj.a #cj@3p ,class #ab #ajj@3p #bcf ,,gst/,,hst #da ,if yr total gross _wwide rev5ue f yr taxa# sales ,7^! taxa# at #j@3p1 #g@3p1 & #ae@3p 7#j@3p1 #f@3p1 & #ad@3p af ,june #cj1 #bjjf77' & ^? ( yr associates is m ?an 4#cj1jjj 9 a cal5d> qu>t] or 9 f\r 3secutive cal5d> qu>t]s1 y h 6regi/] = ,,gst/,,hst4 ,we 3sid] crew memb]s :o rcv a %>e (! cat*1 -monly "kn z .%>espeople1 6be self-employ$4 ,"!=e1 !y may al h 6regi/] = ,,gst/,,hst4 ,if yr gross rev5ue is 4#cj1jjj or less1 y d n h 6regi/] = ,,gst/,,hst1 b y may d s volunt>ily4 ,x may b5efit y 6regi/] 2c ,,gst/,,hst regi/rants c claim .9put .tax .cr$its4 ,^! cr$its all[ y 6recov] ! ,,gst/,,hst y h pd or [e = pur*ases & exp5ses made 6provide taxa# gds & s]vices at ! rates ( #j@3p1 #g@3p1 & #ae@3p 7#j@3p1 #f@3p1 & #ad@3p af ,june #cj1 #bjjf74 #bcg ,,gst/,,hst a#da ,note ,nova ,scotia1 ,new ,brunswick1 & ,newf.dl& & ,labrador h>moniz$ _! prov9cial sales tax ) ,,gst 6cr1te ,,hst4 ,,hst applies 6! same gds & s]vices z ,,gst b at ! rate ( #ae@3p 7#ad@3p af ,june #cj1 #bjjf74 ,examples ( sales & pur*ases t >e .taxa# at #g@3p or #ae@3p 7#f@3p or #ad@3p af ,june #cj1 #bjjf7 9clude3 --fi% or o!r m>9e or fre%wat] animals sold z bait = recre,nal fi%+2 --fi% or o!r m>9e or fre%wat] animals n ord9>ily us$ z food = human 3sump;n2 --traps1 pots1 & cages2 --fi% boxes2 --navig,n equip;t2 --repair & ma9t5.e mat]ials2 & --/,n>y 5g9es & \tbo>d motors4 ,_m fi% products & c]ta9 l>ge fi%+ equip;t >e taxa#1 b at ! rate ( #bch ,,gst/,,hst b#da #j@3p4 ,we ref] 6^! z z]o-rat$4 ,y d n pay ,,gst/,,hst :5 y buy ^! products1 & y d n *>ge ,,gst/,,hst :5 y sell !m 6yr cu/om]s4 ,"h is ! li/ ( .z]o-rat$ fi%+ products & equip;t3 --bait1 s* z m9n[s1 us$ 9 -m]cial fi%+1 z l;g z ! cat* is us$ = human 3sump;n2 --fi% fe$ & by-products sold 9 quantities ( at l1/ #bj kg ac 6! ,fe$s ,regul,ns2 --fi% or o!r m>9e or fre%wat] animals1 s* z oy/]s1 clams1 & mussels1 n fur!r process$ ?an froz51 salt$1 smok$1 dri$1 scal$1 evisc]at$1 or fillet$1 provid$ !y >e norm,y us$ z food = human 3sump;n1 & n us$ z bait = recre,nal fi%+2 --fi% e7s t >e produc$ = hat*+ purposes2 --fi%+ vessels y buy ei 9side or \tside ,canada 6use 9 -m]cial fi%+1 #bci ,,gst/,,hst c#da if y provide all ! foll[+ docu;ts 6! v5dor or ! cu/oms (fice3 --yr ,,gst/,,hst ,busi;s ,numb]2 --a decl>,n sign$ 0y /at+ t y 9t5d 6use ! vessel 9 -m]cial fi%+2 & --a valid -m]cial limit$-5try fi%+ lic;e numb] issu$ 0,fi%]ies & ,oc1ns ,canada or a prov9cial or t]ritorial gov]n;t 7lic5s+ require;ts may v>y f region 6region72 --! foll[+ nets & relat$ equip;t3 --gill-nets1 se9es1 & trawl-nets2 --we2+1 l1dl9es1 corkl9e 7top rope7 = gill-nets1 se9es1 & trawl-nets2 --floats = gill nets & se9es2 --drums = gill-nets1 se9es1 trawl- nets1 & l;g-l9es2 --5trap;t & pr$ator we2+2 --trawl-net doors2 & --! foll[+ equip;t & products3 --automatic bait]s1 ji7]s1 & net-p5 fe$]s2 #bdj ,,gst/,,hst d#da --manufactur$ netp5s = use 9 aquaculture2 & --me*anical net wa%]s & pescalators4 ,,gst/,,hst regi/rants c claim an 9put tax cr$it =! ,,gst/,,hst !y pd or [e = pur*ases & exp5ses made 6provide taxa# gds & s]vices at ! rates ( #j@3p1 #g@3p1 & #ae@3p 7#j@3p1 #f@3p1 & #ad@3p af ,june #cj1 #bjjf74 ,a limit$ numb] ( gds & s]vices y buy >e exempt f ,,gst/,,hst4 ,s9ce y d n pay ,,gst/,,hst on ^! gds & s]vices1 "! is no 9put tax cr$it 6claim4 ,fur!rmore1 y _c claim 9put tax cr$its = ,,gst/,,hst y pd or [e = pur*ases or exp5ses made 6provide exempt supplies & s]vices4 ,examples ( .exempt gds & s]vices 9clude3 --comm]cial fi%+ lic;e fees2 --9sur.e s]vices sold 09sur.e -panies1 ag5ts1 or brok]s2 #bda ,,gst/,,hst e#da --mo/ s]vices provid$ 0f9ancial 9/itu;ns1 s* z >rang+ loans2 & --mo/ h1l?1 m$ical1 & d5tal s]vices4 ,= m 9=m,n1 see ,guide ,,rc#djbb1 ,g5]al ,9=m,n = ,,gst/,,hst ,regi/rants4 #bdb ,9dex #db ,page ,a3.t+ fees """""""""""""""""""""""" #ah ,a3rual me?od """"""""""""""""""""""" #e ,adju/;t = curr5t-ye> a4i;ns """"""" #bg ,adv]tis+ """""""""""""""""""""""""" #ai ,all[.e on eligi# capital prop]ty "" #bb ,bait """""""""""""""""""""""""""""" #ad ,base am.t = capital co/ all[.e """" #bg ,b5efits """"""""""""""""""""""""""" #ah ,busi;s liabilities """""""""""""""" #bc ,busi;s use (a motor vehicle """"""" #ae ,busi;s-use-(-home exp5ses """"""""" #bb ,capital co/ all[.e 7,,cca7 """ #aj1 #bc ,,cca me?od """""""""""""""""""""""" #ah ,,cca rates """"""""""""""""""" #bg1 #dj ,capital 3tribu;ns 9 #bjjf """"""""" #bc ,capital ga9s """""""""""""""""""""" #cf ,capta9s ( fi%+ boats """""""""""""" #ad ,ca% me?od """""""""""""""""""""""""" #e ,,cca =! ye> """"""""""""""""""""""" #bg #bdc ,9dex a#db ,*ang+ f p]sonal 6busi;s use """"""" #bi ,*ang+ yr me?od ( report+ 9come """"" #f ,class numb] """"""""""""""""""""""" #be ,-p5s,n = loss ( fi%+ 9come or prop]ty """""""""""""""""""""""""" #ab ,co/ ( a4i;ns 9 ! ye> """""""""""""" #be ,cr$its """""""""""""""""""""""""""" #aa ,crew %>es """"""""""""""""""""""""" #ad ,cumulative eligi# capital 7,,cec7 a3.t """"""""""""""""""""""""""""" #cc ,dates 6rememb] """"""""""""""""""""" #h ,def9i;ns ,automobile """""""""""""""""""""" #ae ,availa# = use """"""""""""""""""" #bc ,busi;s "p only """""""""""""""""" #ac ,capital co/ """"""""""""""""""""" #bd ,deprecia# prop]ty """"""""""""""" #bd ,fair m>ket value 7,,fmv7 """""""" #bd ,motor vehicle """"""""""""""""""" #ae ,non->m's l5g? transac;n """"""""" #bd ,pass5g] vehicle """"""""""""""""" #ae ,proce$s ( 4posi;n """"""""""""""" #bd #bdd ,9dex b#db ,undepreciat$ capital co/ 7,,ucc7 """""""""""""""""""""""" #bd ,details ( o!r "pn]s """"""""""""""" #bc ,draw+s 9 #bjjf """""""""""""""""""" #bc ,electronic (fice equip;t """""""""" #bh ,eligi# capital exp5ditures """ #aj1 #cc ,eligi# capital prop]ty """""""""""" #cd ,exp5se records """"""""""""""""""""" #f ,fiscal p]iod """"""""""""""""""""""" #e ,fi%+ boat [n]s """""""""""""""""""" #ac ,food """""""""""""""""""""""""""""" #ae ,=ms """""""""""""""""""""""""""""""" #b ,frei """"""""""""""""""""""""""""""" #ad ,gds & s]vices tax 7,,gst7 rebate """ #i ,grants """"""""""""""""""""""" #aa1 #cj ,h[ d y calculate yr fi%+ 9come8 """" #e ,h[ 6calculate yr annual all[.e """" #cc #bde ,9dex c#db ,ice """"""""""""""""""""""""""""""" #ad ,9come f relat$ activities """"""""" #ac ,9come records """""""""""""""""""""" #f ,9/al;t pay;ts """""""""""""""""""""" #h ,9du/ry code """"""""""""""""""""""" #aa ,9sur.e """""""""""""""""""""""""""" #ad ,9t]e/ """"""""""""""""""""""""""""" #ae ,9t]e/ on ! m"oy y borr[ =a pass5g] vehicle """""""""""""""""" #af ,9v5tory me?od """"""""""""""""""""" #ah ,jo9t [n]%ip (a pass5g] vehicle """" #ag ,l& """""""""""""""""""""""""""""""" #bf ,l1s+ co/s """"""""""""""""""""""""" #ai ,l1s+ co/s =a pass5g] vehicle """""" #af ,l1sehold 9t]e/ """""""""""""""""""" #bi ,legal fees """""""""""""""""""""""" #ah ,lic;es """""""""""""""""""""""""""" #ae ,limit$ "pn]%ip """""""""""""""""""" #aj ,losses ,fi%+ """""""""""""""""""""""""""" #ce ,non-capital """"""""""""""""""""" #ce #bdf ,9dex d#db ,m ?an "o vehicle """""""""""""""""" #ag ,motor vehicle exp5ses """"""""""""" #ae ,net 9come 7loss7 """""""""""""""""" #bc ,net 9come 7loss7 2f adju/;ts """""" #bb ,nets & traps """""""""""""""""""""" #ag ,non->m's l5g? transac;ns """"" #bd1 #cj ,(fice exp5ses """"""""""""""""""""" #ag ,o!r am.ts deducti# f yr %>e ( net "pn]%ip 9come 7loss7 """"""""""""" #bb ,o!r exp5ses """"""""""""""""""""""" #ai ,o!r 9come """"""""""""""""""""""""" #ab ,o!r m>9e products """"""""""""""""" #aa ,"pn]%ips """""""""""""""""""""""""" #aj ,"pn]%ip losses """"""""""""""""""""" #i ,pass5g] vehicles """""""""""""""""" #bh ,patronage divid5ds """""""""""""""" #ab ,pay+ debts ) "p (a cat* """"""""""" #ab ,p5alties """"""""""""""""""""""""""" #b ,p]sonal use ( prop]ty """"""""""""" #bi ,prepd exp5ses """"""""""""""""""""" #ad #bdg ,9dex e#db ,private h1l? s]vices plan 7,,phsp7 """"""""""""""""""""""""" #ai ,proce$s ( 4posi;ns 9 ! ye> """""""" #bf ,profes.nal fees """"""""""""""""""" #ah ,proprietor%ips """""""""""""""""""" #aj ,public,ns """""""""""""""""""""""""" #b ,rebates """""""""""""""""""""" #aa1 #ad ,recapture ( ,,cca """"""""""""""""" #bg ,record books """"""""""""""""""""""" #g ,repairs ,electrical equip;t """""""""""""" #ai ,5g9e """""""""""""""""""""""""""" #ai ,fi%+ boat """"""""""""""""""""""" #ai ,replace;t prop]ty """"""""""""""""" #ce -------------------------------------#dc ,res]ves """"""""""""""""""""""""""" #ci ,sal>ies """"""""""""""""""""""""""" #ah ,sale ( eligi# capital prop]ty """"" #cd ,sale ( prop]ty """""""""""""""""""" #ab ,salt """""""""""""""""""""""""""""" #ad ,%>esp]son 9come """"""""""""""""""" #ac #bdh ,9dex a#dc ,%>espeople """""""""""""""""""""""" #ad ,small tools """"""""""""""""""""""" #bi ,sole proprietor%ips """"""""""""""" #aj ,special rates = c]ta9 boats """"""" #bi ,special rules = 4pos+ (a build+ 9 ! ye> """""""""""""""""""""""""""" #ca ,subsidies """""""""""""""""""" #ab1 #cj ,teleph"o exp5ses """""""""""""""""" #ai ,t]m9al loss """"""""""""""""""""""" #bg ,"t limits """""""""""""""""""""""""" #h ,truck+ exp5ses """""""""""""""""""" #ai ,,ucc af a4i;ns & 4posi;ns """"""""" #bf ,,ucc at ! 5d (! ye> """"""""""""""" #bh ,,ucc at ! />t (! ye> """""""""""""" #be ,use ( fi%+ boat ma9ly = p]sonal use """""""""""""""""""""""""""""" #ad ,wages """"""""""""""""""""""""""""" #ah ,:at is a cumulative eligi# capital 7,,cec7 a3.t8 """""""""""" #cc ,:at is a "pn]%ip8 """""""""""""""""" #h #bdi ,9dex b#dc ,:at is an annual all[.e8 """""""""" #cc ,:at is an eligi# capital exp5diture8 """""""""""""""""""""" #cc ,:at is ,,cca8 """"""""""""""""""""" #bc ,:at is fi%+ 9come8 """"""""""""""""" #b #bej ,yr op9ion c.ts6 ,we review \r 9come tax guides & pamphlets ea* ye>4 ,if y h any -;ts or su7es;ns 6help u improve \r public,ns1 we wd l 6he> f y6 ,pl1se s5d yr -;ts to3 ,taxpay] ,s]vices ,directorate ,canada ,rev5ue ,ag5cy #gej ,h]on ,road ,ottawa ,,on ,k#a;,a #j;,l#e #bea #beb ,canada ,rev5ue ,ag5cy #a ,t#baba 7#jf7 ,t#baba--,/ate;t ( ,fi%+ ,activities ,= m 9=m,n on h[ 6-plete ? =m1 see ,guide ,t#djjd1 ,fi%+ ,9come4 ,code #d ,id5tific,n ,yr "n ---- ,yr social 9sur.e numb] ---- ,fiscal p]iod f 7,ye>/,mon?/,"d7 ---- ,to 7,ye>/,mon?/,"d7 ---- ,0 #bjjf yr f9al ye> ( fi%+8 ,yes ---- ,no ---- ,boat "n ---- ,ma9 species ---- ,vessel regi/r,n numb] 7,,vrn7 ---- ,9du/ry code 7see ,*apt] #b ( ,guide ,t#djjd1 ,fi%+ ,9come7 ---- #bec ,t#baba a#a ,"n & a4ress ( p]son or firm prep>+ ? =m ---- ,"pn]%ip fil] id5tific,n numb] ---- ,tax %elt] id5tific,n numb] ---- ,busi;s numb] 7#ae numb]s7 ---- ,yr p]c5tage (! "pn]%ip ----@3p ,9come ,fi% products """"""""""""""""""" 4#---- ,o!r m>9e products """""""""""""" 4#---- ,grants1 cr$its1 & rebates """"""""""""""""""""""" 4#---- ,subsidies """""""""""""""""""""" 4#---- ,-p5s,n = loss ( fi%+ 9come or prop]ty """"""""""""""""""""""" 4#---- ,o!r 9come """""""""""""""""""""" 4#---- ,%>esp]son 9come3 ,"n ( fi%+ boat & capta93 ---- """""""""""""""""""""""""" 4#---- ---- """""""""""""""""""""""""" 4#---- #bed ,t#baba b#a 7a7 & 7#hbii7 ,gross 9come-- 7total (! abv l9es7 ,5t] ? am.t on l9e #agj ( yr 9come tax & b5efit return """"""""""""""""" 4#---- ,exp5ses 75t] busi;s "p only7 7#iach7 ,bait1 ice1 salt 4#---- 7#ijfb7 ,crew %>es """"""" 4#---- 7#ibbd7 ,fuel & oil co/s 7except = motor vehicles7 """""""""""""" 4#---- 7#iacf7 ,ge> """"""""""""" 4#---- 7#hfij7 ,9sur.e """""""""" 4#---- 7#hgaj7 ,9t]e/ """"""""""" 4#---- 7#hebc7 ,food """""""""""" 4#---- 7#hgfj7 ,lic;es """""""""" 4#---- 7#ibha7 ,motor vehicle exp5ses 7n 9clud+ ,,cca7 7see ,*>t ;,a on page #d7 """""""""""""""""""" 4#---- 7#hhaj7 ,(fice exp5ses """ 4#---- 7#iacg7 ,nets & traps """" 4#---- #bee ,t#baba c#a 7#hhfj7 ,legal1 a3.t+1 & o!r profes.nal fees """" 4#---- 7#ijfj7 ,sal>ies1 wages1 & b5efits 79clud+ employ]'s 3tribu;ns7 """ 4#---- ,repairs --,fi%+ boat """" 4#---- --,5g9e """"""""" 4#---- --,electrical equip;t """"""" 4#---- ,total (! abv ?ree l9es """""""""""" 4#---- ,m9us3 ,9sur.e recov]y """"""""" 4#---- 7#hifc7 ,yr co/ """ 4#---- 4#---- 7#ibgj7 ,o!r exp5ses """""""""""""""" 4#---- ,subtotal """""""""""""""" 4#---- 7#iicf7 ,capital co/ all[.e 7f ,>ea ;,a on page #b7 """"""""""""""" 4#---- 7#iice7 ,all[.e on eligi# capital prop]ty """""""" 4#---- #bef ,t#baba d#a 7b7 & 7#icfh7 .,total .exp5ses 7total (! abv ?ree l9es7 """""""""""""""""""" 4#---- 7#icfi7 ..,net 9come 7loss7 2f .adju/;ts 7l9e ;a .m9us l9e ;b7 """"""""""""""""""""""""""" 4#---- 7c7 ,yr %>e ( l9e #icfi abv """"" 4#---- 7d7 & 7#iidc7 .,m9us3 ,o!r am.ts deducti# f yr %>e ( net "pn]%ip 9come 7loss7 7f ! *>t on page #b7 """"""""""""""""""" 4#---- 7e7 ..,net 9come 7loss7 af .adju/;ts 7l9e ;c .m9us l9e ;d7 """"""""""""""""""""""""""" 4#---- 7#iide7 .,m9us3 ,busi;s-use-(- home exp5ses 7f ! *>t on page #b7 """"""""""""""""""""""""""" 4#---- 7#iidf7 ..,yr net 9come 7.loss7 7l9e ;e .m9us l9e #iide7 ,5t] ? am.t on l9e #adc ( yr 9come tax & b5efit return """"""""""" 4#---- #beg ,o!r am.ts deducti# f yr %>e ( #b net "pn]%ip 9come 7loss7 ,claim exp5ses y 9curr$ t 7 n 9clud$ 9 ! "pn]%ip /ate;t ( 9come & exp5ses1 &= : ! "pn]%ip did n reimburse y4 ---- """""""""""""""""""""""""" 4#---- ---- """""""""""""""""""""""""" 4#---- ---- """""""""""""""""""""""""" 4#---- ,total 75t] ? am.t on l9e ;d on page #a7 """""""""""""""""""""" 4#---- ,calculat+ busi;s-use-(-home exp5ses ,h1t """""""""""""""""""""""""""" 4#---- ,electric;y """"""""""""""""""""" 4#---- ,9sur.e """"""""""""""""""""""""" 4#---- ,ma9t5.e """""""""""""""""""""""" 4#---- ,mortgage 9t]e/ """"""""""""""""" 4#---- ,prop]ty taxes """""""""""""""""" 4#---- ,o!r exp5ses """""""""""""""""""" 4#---- ,subtotal """"""""""""""""""""""" 4#---- #beh ,t#baba a#b .,m9us3 ,p]sonal-use "p """"""""" 4#---- ,subtotal """"""""""""""""""""""" 4#---- .,plus3 --,capital co/ all[.e 7busi;s "p only7 """""""""""""""""""" 4#---- --,am.t c>ri$ =w>d f previ\s ye> """"""""""""""""""""""""" 4#---- ,subtotal """"""""""""""""""""""" 4#---- 7#a7 .,m9us3 ,net 9come 7loss7 af adju/;ts 7f l9e ;e on page #a7 --if negative1 5t] 8#j0 """"""" 4#---- 7#b7 ,busi;s-use-(-home exp5ses availa# 6c>ry =w>d 7l9e #a .m9us l9e #b7--if negative1 5t] 8#j0 """""""""""""""""""""""""" 4#---- .,all[a# .claim 7! less] ( am.ts #a or #b abv7--,5t] ? am.t on l9e #iide on page #a """""""""" 4#---- #bei ,details ( equ;y b#b 7#iica7 ,total busi;s liabilities 4#---- 7#iicb7 ,draw+s 9 #bjjf """"""""" 4#---- 7#iicc7 ,capital 3tribu;ns 9 #bjjf """"""""""""""""""""""""" 4#---- ,>ea ;,a--,calculat+ capital co/ all[.e 7,,cca7 ,"p ,,xi prop]ties 7acquir$ af #aiga7 ,transcrib]'s note3 7,! foll[+ is set up 9 t5 columns47 7#a7 ,class numb] ---- 7#b7 ,undepreciat$ capital co/ 7,,ucc7 at ! />t (! ye> 4#---- 7#c7 ,co/ ( a4i;ns 9 ! ye> 7see ,>1s ;,b & ;,c on page #c7 4#---- 7#d7 ,proce$s ( 4posi;ns 9 ! ye> 7see ,>1s ;,d & ;,e on page #c7 4#---- #bfj ,t#baba c#b 7#e7 99 ,,ucc af a4i;ns & 4posi;ns 7col4 #b .plus col4 #c .m9us col4 #d7 4#---- 7#f7 ,adju/;t = curr5t-ye> a4i;ns 7"o- half multipli$ by 7col4 #c .m9us col4 #d74 ,if negative1 5t] 8#j0 4#---- 7#g7 ,base am.t = ,,cca 7col4 #e .m9us col4 #f7 4#---- 7#h7 ,rate 7@3p7 ---- 7#i7 ,,cca =! ye> 7,col4 #g multipli$ 0col4 #h1 or an adju/$ am.t7 4#---- 7;i7 ,total ,,cca on ,"p ,,xi prop]ties 75t] on l9e #iicf on page #a ! 8busi;s0 "p ( ? am.t m9us any ,,cca = busi;s-use-(-home exp5ses 99997 7add all am.ts 9 column #i7 ---- 7#aj7 ,,ucc at ! 5d (! ye> 7col4 #e .m9us col4 #i7 4#---- 99 ,if y h a negative am.t 9 ? column1 add x 69come z a recapture "u 8,o!r 9come0 on ! appropriate l9e on page #a4 ,if "! is no prop]ty left 9 ! class & "! is a positive am.t 9 ! column1 deduct ! am.t f 9come z #bfa ,t#baba d#b a t]m9al loss on l9e #ibgj1 8,o!r exp5ses10 on page #a4 ,recapture & t]m9al loss d n apply 6a ,class #aj.a prop]ty4 ,= m 9=m,n1 r1d ,*apt] #c ( ,guide ,t#djjd1 ,fi%+ ,9come4 9999 ,= 9=m,n on ,,cca = busi;s-use-(- home exp5ses1 r1d 8,special ,situ,ns01 ,*apt] #c ( ,guide ,t#djjd1 ,fi%+ ,9come4 ,"p ,,xvii prop]ties 7acquir$ 2f #aigb7 ,transcrib]'s note3 7,! foll[+ *>t is set up 9 sev5 columns47 7#a7 ,ye> acquir$ ---- 7#b7 ,prop]ty descrip;n ---- 7#c7 ,mon? ( 4posi;n ---- 7#d7 ,co/ 7busi;s por;n7 4#---- 7#e7 ,rate 7@3p7 ---- 7#f7 ,all[.e = ? ye> 4#---- #bfb ,t#baba e#b 7;ii7 ,total ,,cca on ,"p ,,xvii prop]ties 7add all am.ts 9 column #f7 4#---- 7#g7 ,total all[.e = ? ye> & previ\s ye>s 4#---- ,5t] ! total ( l9es 7;i7 & 7;ii7 on l9e #iicf on page #a4 --------------------------------------#c ,>ea ;,b--,details ( equip;t a4i;ns 9 ! ye> ,transcrib]'s note3 7,! *>ts = ,>1s ;,a 6;,e >e set up 9 a column> =mat47 7#a7 ,class numb] ---- 7#b7 ,prop]ty descrip;n ---- 7#c7 ,total co/ 4#---- 7#d7 ,p]sonal "p 7if applica#7 4#---- 7#e7 ,busi;s "p 7column #c .m9us column #d7 4#---- #bfc ,t#baba a#c 7#iibe7 ,total equip;t a4i;ns 9 ! ye> 7add all am.ts 9 column #e7 4#---- ,>ea ;,c--,details ( build+ a4i;ns 9 ! ye> 7#a7 ,class numb] ---- 7#b7 ,prop]ty descrip;n ---- 7#c7 ,total co/ 4#---- 7#d7 ,p]sonal "p 7if applica#7 4#---- 7#e7 ,busi;s "p 7column #c .m9us column #d7 4#---- 7#iibg7 ,total build+ a4i;ns 9 ! ye> 7add all am.ts 9 column #e7 4#---- ,>ea ;,d--,details ( equip;t 4posi;ns 9 ! ye> 7#a7 ,class numb] ---- 7#b7 ,prop]ty descrip;n ---- 7#c7 ,proce$s ( 4posi;n 7%d n 2 m ?an ! capital co/7 4#---- 7#d7 ,p]sonal "p 7if applica#7 4#---- #bfd ,t#baba b#c 7#e7 ,busi;s "p 7column #c .m9us column #d7 4#---- 7#iibf7 ,total equip;t 4posi;ns 9 ! ye> 7add all am.ts 9 column #e7 4#---- ,note3 ,if y 4pos$ ( prop]ty f yr fi%+ busi;s 9 ! ye>1 see ,*apt] #c ( ,guide ,t#djjd1 ,fi%+ ,9come1 = 9=m,n ab yr proce$s ( 4posi;n4 ,>ea ;,e--,details ( build+ 4posi;ns 9 ! ye> 7#a7 ,class numb] ---- 7#b7 ,prop]ty descrip;n ---- 7#c7 ,proce$s ( 4posi;n 7%d n 2 m ?an ! capital co/7 4#---- 7#d7 ,p]sonal "p 7if applica#7 4#---- 7#e7 ,busi;s "p 7column #c .m9us column #d7 4#---- 7#iibh7 ,total build+ 4posi;ns 9 ! ye> 7add all am.ts 9 column #e7 4#---- #bfe ,t#baba c#c ,note3 ,if y 4pos$ ( prop]ty f yr fi%+ busi;s 9 ! ye>1 see ,*apt] #c ( ,guide ,t#djjd1 ,fi%+ ,9come1 = 9=m,n ab yr proce$s ( 4posi;n4 ,>ea ;,f--,details ( l& a4i;ns & 4posi;ns 9 ! ye> 7#iibc7 ,total co/ ( all l& 4posi;ns 9 ! ye> """""""""""""" 4#---- 7#iibd7 ,total proce$s f all l& 4posi;ns 9 ! ye> """""""""""""" 4#---- ,note3 ,y _c claim capital co/ all[.e on l&4 ,details ( o!r "pn]s ,"n & a4ress ---- ,%>e ( net 9come 7or loss7 4#---- ,p]c5tage ( "pn]%ip ----@3p #bff ,*>t ;,a--,motor vehicle #d exp5ses 7#a7 ,5t] ! kilometres y drove 9 ! tax ye> 6e>n fi%+ 9come """"" 4#---- 7#b7 ,5t] ! total kilometres y drove 9 ! tax ye> """"""""""""" 4#---- 7#c7 ,fuel & oil """""""""""""""" 4#---- 7#d7 ,9t]e/ 7see ,*>t ;,b 2l7 """ 4#---- 7#e7 ,9sur.e """""""""""""""""""" 4#---- 7#f7 ,lic;e & regi/r,n """""""""" 4#---- 7#g7 ,ma9t5.e & repairs """"""""" 4#---- 7#h7 ,l1s+ 7see ,*>t ;,c 2l7 """" 4#---- 7#i7 ,o!r exp5ses 7pl1se specify7 """""""""""""""""""""" 4#---- 7#aj7 """"""""""""""""""""""""""" 4#---- 7#aa7 ..,total motor vehicle .exp5ses3 ,add l9es #c 6#aj """ 4#---- 7#ab7 ,busi;s "p3 7l9e #a 4#---- divid$ 0l9e #b 4#----7 "ts l9e #aa 4#---- """""""""""""""""""" 4#---- 7#ac7 ,busi;s p>k+ ,fees """""""" 4#---- 7#ad7 ,supple;t>y busi;s 9sur.e 4#---- 7#ae7 ,add l9es #ab1 #ac1 & #ad 4#---- #bfg ,t#baba a#d ..,all[a# motor vehicle .exp5ses3 ,5t] ! am.t f l9e #ae on l9e #ibha on page #a4 ,note3 ,y c claim ,,cca on motor vehicles 9 ,>ea ;,a on page #c4 ,*>t ;,b--,availa# 9t]e/ exp5se = pass5g] vehicles 7,a7 ,total 9t]e/ paya# 7a3rual me?od7 or pd 7ca% me?od7 9 ! fiscal p]iod """""""""""""""""" 4#---- 7,b7 4#---- 99 multipli$ 0! numb] ( "ds 9 ! fiscal p]iod = : 9t]e/ 0 paya# 7a3rual me?od7 or pd 7ca% me?od7 4#---- """""" 4#---- ..,availa# 9t]e/ exp5se3 am.t ;,a or ;,b1 :i*"e is .less 75t] ? am.t on l9e #d ( ,*>t ;,a7 """""""""""""""""""""""""" 4#---- #bfh ,t#baba b#d 99 ,= pass5g] vehicles b"\3 --f ,septemb] #a1 #aihi1 6,decemb] #ca1 #aiif1 & f #bjja 6#bjjf1 use .4#aj --f #aiig 6#bjjj1 use .4#h.cc ,*>t ;,c--,eligi# l1s+ co/ = pass5g] vehicles 7#a7 ,total l1se *>ges 9curr$ 9 yr #bjjf fiscal p]iod =! vehicle """"""""""""""""""""""" 4#---- 7#b7 ,total l1se pay;ts deduct$ 2f yr #bjjf fiscal p]iod =! vehicle """"""""""""""""""""""" 4#---- 7#c7 ,total numb] ( "ds ! vehicle 0 l1s$ 9 yr #bjjf fiscal p]iod & previ\s fiscal p]iods """""""""""""""""""""""""" ---- 7#d7 ,manufactur]'s li/ price """ 4#---- 7#e7 ,! am.t on l9e #d or ,74#ce1bid 99 plus 7,,gst & ,,pst1 or ,,hst on #bfi ,t#baba c#d 4#ce1bid77'1 :i*"e is m 4#---- "ts #he@3p """""""""""""""""""" 4#---- 7#f7 ,774#hjj 99 plus ,,gst & ,,pst1 or ,,hst on 4#hjj7 "ts l9e #c7' divid$ 0#cj 4#---- m9us l9e #b3 4#---- """"""""""" 4#---- 7#g7 ,774#cj1jjj 99 plus ,,gst & ,,pst1 or ,,hst on 4#cj1jjj7 "ts l9e #a7' divid$ 0l9e #e """ 4#---- ..,eligi# l1s+ co/3 l9e #f or #g1 :i*"e is .less 7,5t] ? am.t on l9e #h ( ,*>t ;,a abv7 4#----- 99 ,if y 5t]$ 96a l1se agree;t 2f ,janu>y #a1 #bjja1 make ! foll[+ *anges 6! *>t3 --l9e #e1 replace 4#ce1bid )3 ,af #aiij & 2f #aiig3 4#bh1bce #aiig3 4#bi1dab #aiih & #aiii3 4#cj1ehh #bjjj3 4#ca1gfe --l9e #f1 replace 4#hjj )3 ,af #aiij & 2f #aiig3 4#fej #aiig3 4#eej #bgj ,t#baba d#d #aiih & #aiii3 4#fej #bjjj3 4#gjj --l9e #g1 replace 4#cj1jjj )3 ,af #aiij & 2f #aiig3 4#bd1jjj #aiig3 4#be1jjj #aiih & #aiii3 4#bf1jjj #bjjj3 4#bg1jjj #bga