The “Prior year additions” table, located at the bottom of Schedule
8 WORKCHART, allows you to determine the CCA related to property already acquired.
To calculate the CCA properly, the acquisition and termination dates
of each of the property must be entered. The CCA
claimed to date in prior years line indicates the cumulated amount
of CCA that was already claimed to date.
When rolling forward, the information contained in the table will be
retained and the annual CCA will be added to the
CCA claimed to date in prior years line. If there was an acquisition
in the year, information related to that property will be transferred
to a new line in the “Prior year additions” table.
The annual CCA for all prior year additions is displayed on the Annual CCA on prior year additions (as per
schedule below) line. That amount is used to determine the maximum
allowable CCA.