Question

I spent $500 on a new desk for my home office. Do I have to capitalize this expense?

Forum|Forum|3 years ago
April 30, 2022
1 reply
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What is the minimum limit for capitalizing an expense?

As per the Canada Revenue Agency (CRA), furniture costing $500 or more will be capitalized under the Class 8 Capital Cost Allowance (CCA).

For more information, please read this CRA page - Capital cost allowance (CCA) classes

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