Working on a T1, client purchased vehicle (10.1) for $13,068 + tax. Taxcycle is auto calculating CCA based on allowable cost ($36,000+tax) UCC value. Never encountered this before, but pretty sure this is an error. UCC to my calculations should be be $14,635 before accelerated UCC gross up. Attached screenshot for reference. Can’t seem to correct this without overriding?
In accordance with Schedule II of the Income Tax Regulations (Capital Cost Allowances) a client can not purchase a Class 10.1 asset for 13,036.
That is likely why the software is giving you strange results.
Change your Class from 10.1 to Class 10.