Ontario Computer tax return

[gambel626]

I'm not sure where to post this but i think that the new builds section suits this topic perfectly fine. I was reading up on the corporations tax highlights.

Capital Cost Allowance for Computers
Currently, computers are eligible for a 55 per cent Capital Cost Allowance (CCA) rate on a declining-balance basis.

Ontario will parallel the 2009 federal budget proposal to provide a temporary 100 per cent accelerated CCA rate for eligible computers and software acquired after January 27, 2009 and before February 2011, subject to federal implementation. As announced federally, the temporary accelerated CCA rate for computers will not be subject to the half-year rule and, accordingly, the full cost of eligible computers and software can be deducted in the first taxation year that the assets are available for use.

The major question I have with this is if you can file for parts of a computer or does it have to be a fully preassembled computer?

[Twitchie]

Wouldn't that be for businesses though? It wouldn't apply to do-it-yourselfer's building from home.

[gambel626]

I know that it is for buisnesses, the person who I would be buidling the computer for runs a small buisness at home.

[DragonFlame]

The CCA class basically covers anything computer related that is within reason... Never had an issue passing printers, monitors, external hard drives, routers etc. as computer equipment. So yeah, can do w/e ya want really just tell your accountant its computer equipment, we don't really differentiate the types of computer equipment.

CA student working in a public accounting firm :)