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Capital Cost Allowance and Capital Property Rules

This video outlines the foundational mechanics of the Capital Cost Allowance (CCA) system used to account for the depreciation of capital property. It provides a structured formula for calculating the Undepreciated Capital Cost (UCC) by adjusting the opening balance for new acquisitions and asset dispositions. The vedio defines critical tax outcomes, such as recapture when a balance becomes negative and terminal losses when a pool is empty but retains a positive balance. Furthermore, it clarifies that capital gains occur only when an asset's selling price exceeds its initial purchase price. Finally, it explains the available for use rule, which dictates that depreciation claims generally cannot begin until an asset is functional, subject to specific timing exceptions for buildings.