“AVAILABLE FOR USE” RULES

Under ITA Section 13(26), you can start claiming CCA in the year that an asset is ‘available for use’ which means, broadly, the time you were able to commence using the asset as it was intended.

The rules regarding when an asset is considered to be available for use vary slightly depending on whether the asset is a building (see ITA 13(28)) or an asset other than a building (see ITA 13(27)).  The overall goal is the same however, you can start claiming CCA (and applying the half-year rule) in the year that the asset can be used as intended.

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Author: Bhanvi Ghai, January 2020

Author: Jasneet Kakkar, January 2020

January, 2020