Book Keeping Task/Depreciation
From PCSAR
(Difference between revisions)
| Line 13: | Line 13: | ||
** Storage Cabinet: "furniture" | ** Storage Cabinet: "furniture" | ||
* Computer: Class 46 (30%) | * Computer: Class 46 (30%) | ||
| - | * Sierra Command Post: Class 10 | + | * Sierra Command Post: Class 10 (30%) |
| + | ** Because initial cost was not over $30K, cannot be Class 10.1 | ||
* Pickup Truck: Class 10 (30%) | * Pickup Truck: Class 10 (30%) | ||
* Equipment Shed: Class 6 (10%) | * Equipment Shed: Class 6 (10%) | ||
** "made of ... corrugated metal" and "the building has no footings or other base supports below ground level" | ** "made of ... corrugated metal" and "the building has no footings or other base supports below ground level" | ||
Revision as of 22:35, 27 January 2016
Amortization Expense
PCSAR follows Canada Revenue Agency’s Classes of Depreciable Property guidelines when depreciating assets. Assets are depreciated at the specified percentage each year. 50% of the stated rate is used for assets that are purchased within the financial year.
As of 2015-08-31 fiscal year end, PCSAR classifies its equipment as:
- Class 8 (20%)
- The majority of PCSAR's assets
- "certain property that is not included in another class", "other equipment you use in business."
- Radios, Satellite Phones, inReach ("electronic communications equipment")
- Trailers: because they are not passenger vehicles and they are not motorized
- Storage Cabinet: "furniture"
- Computer: Class 46 (30%)
- Sierra Command Post: Class 10 (30%)
- Because initial cost was not over $30K, cannot be Class 10.1
- Pickup Truck: Class 10 (30%)
- Equipment Shed: Class 6 (10%)
- "made of ... corrugated metal" and "the building has no footings or other base supports below ground level"
