CCA Worksheet

Updated: 2023-09-19

The CCA worksheet contains the standard capital cost allowance (CCA) table. The CCA worksheet appears automatically when you create a related income statement. For example, when you create a T2125, TaxCycle creates the connected T2125CCA.

Information entered in the Asset Manager flows to this worksheet. TaxCycle pools assets of the same class entered in the Asset Manager into one row on the CCA worksheet.

If you enter details on the CCA worksheet, use one row for each CCA class or pool. TaxCycle will create a separate Asset Manager record for each row in the table. As you complete a row, TaxCycle adds a new blank row to the bottom of the table.

1. Type the class number or begin typing a keyword find the class by matching the description. Once you select a class, TaxCycle automatically adds a letter to the end of each CCA class to allow you to pool or separate assets as required.
2. Enter the undepreciated capital cost (UCC) at the start of the year. When possible, TaxCycle carries forward the UCC and the class number from the prior year.
3. In general, we suggest tracking acquisitions and dispositions on the detailed Asset Manager, as TaxCycle automatically determines eligibility for Accelerated CCA and Immediate Expensing measures based on details entered there. However, for simpler CCA claims, you can enter the values on page 2 of the CCA worksheet.
4. Information in this table flows through to the related Asset Manager. Double click on a row or press F6 to jump to the record.
5. To claim a different CCA amount, answer Yes to the Do you wish to claim a different amount? question and enter the amount you wish to claim.
6. To claim CCA in a different order, select the claim order or go to the CCA Claim worksheet.
7. CCA claimed on motor vehicles flows into the bottom of this table from the Motor Vehicle worksheet.

Additions and Dispositions

Scroll down to the bottom of the worksheet to enter details of current year addition or disposition transactions.

1. Type the class number to match it to the class or pool in the CCA table on the first page.
2. Enter the description.
3. For additions, enter the the total cost.
4. For dispositions, enter the proceeds.
5. Enter any personal part, if applicable.
6. TaxCycle calculates the business part and uses that in the CCA table on the first page.