T2 S8 Assets Current Year Additions error

Seems like that the actual amount for Current Year Addition in schedule S8 does not flow to the CCA section. Instead, it shows the maximum allowable amount of $30,000. I tried with both less than and more than the max. In both cases, the amount appearing for CCA is $30,000 (the maximum) not the actual amount.

It depends on various factors (which you haven’t specified). For instance:

  1. What CCA class is it?
  2. How are TaxCycle’s Optimizations set? By default it is set to minimize tax payable, but you can change that.
  3. How much taxable income is there? (though probably not related to your situation, if the above optimization is default, and there is not enough taxable income, TaxCycle will reduce the CCA claim automatically).
  4. What do you mean by “actual”? CCA is permissive, so the “actual” amount is whatever you choose, up to the maximum. TaxCycle doesn’t know how much you want to claim unless you tell it. If I want to claim less than the maximum CCA, I typically override the CCA amount.

Does that help?