CCA Listing EOY [R1302]

Contents

• Report Selection
  
  
• SLP Report
  
• DECL Report
  
• SL Report (Form 1)
  
• SL Report (Form 2)
  
• Pooled Assets Report
  
• Summary EOY Report

Introduction

The CCA Listing EOY report [R1302] provides information on capital cost allowances for assets or pools as of last fiscal year end to assist in the preparation of the lessor’s tax return.

Three groups of reports may be generated. The first group includes details on how capital cost allowance is calculated and consists of the following 3 reports:

• CCA LISTING EOY - SLP [R1302A]
  This report details how CCA is calculated on assets coded as specified leasing property.

• CCA LISTING EOY - DECL [R1302B]
  This report details how CCA is calculated on assets or pools on the Declining Balance CCA calculation method.

• CCA LISTING EOY - SL [R1302C]
  This report details how CCA is calculated on assets or pools on the Straight Line CCA calculation method. Two forms of this report are available, one for the pool, and the other for an asset placed in a separate class.

The second group contains one report, CCA Listing EOY - Pooled Assets [R1302D], which lists all assets active, added, or disposed of in the pool during the last fiscal year.

The third group contains one report, CCA Summary EOY [R1302E], which summarizes CCA information.

All reports described above may be accessed through the CCA report menu [R13].

The report may be selected for:

• All tax entities
• A single tax entity
• A class

The reports are organized by tax entity and class.

Report Selection

This screen is used to select report criteria.

• ALL
  Enter X to report on assets by tax entities. Leave blank to report on a tax entity and/or class.

• TAX ENTITY
  Enter the number of the tax entity upon which to report. Leave blank if reporting for more than one tax entity. Use Help for a list of current tax entities.

• CLASS
  Enter the class upon which to report. Leave blank if reporting for more than one class. Use Help for a list of valid classes.

This screen is used to select the remainder of report criteria and to specify which reports to generate.

• FISCAL YEAR END
  Enter the fiscal year end date for which the reports are to be generated. It is defaulted with the last fiscal year end if the tax entity is entered.

• CCA LISTING EOY - SLP
  
  
• CCA LISTING EOY - DECL
  
  
• CCA LISTING EOY - SL
  
  
• CCA LISTING EOY - POOLED ASSETS
  
  
• CCA SUMMARY EOY
  Place an X next to the name of any report to be generated.

CCA Listing EOY - SLP report [R1302A]

The CCA Listing EOY - SLP report [R1302A] reports at the asset level on specified leasing property, sorted by tax entity and class, and includes the following information:

• ASSET
  The asset number is displayed.

• OPENING UNDEPRECIATED CAPITAL COST
  The ending undepreciated capital cost as of the end of the fiscal year before the last fiscal year is displayed.

• ADJUSTMENT
  The adjustment amount entered through the CCA Adjustment update [U1502] for the last fiscal year is displayed.

• CAPITAL COST
  The capital cost of the asset as entered through the Add Asset of the New Lease update [U0101] is displayed.

• PROCEEDS
  The proceeds from the sale of the asset if sold is displayed.

• ORDINARY CCA - AVAILABLE
  The cumulative capital cost allowance that would have been available for the asset as of the end of last fiscal year, had the specified leasing property rule not applied, is displayed.
  
  
• ORDINARY CCA - TAKEN
  The cumulative capital cost allowance actually claimed on the asset is displayed.
  
  
• NOTIONAL PRN - AVAILABLE
  The cumulative notional principal accrued on the loan as of the end of last fiscal year is displayed. The prorated ordinary CCA, if any, is added to this amount.

• NOTIONAL PRN - TAKEN
  The capital cost allowance actually claimed on the asset since it is on the current lease is displayed.

• CAPITAL COST ALLOWANCE
  The capital cost allowance allowed for last fiscal year is displayed. It is the lesser of the following two amounts:

  ORDINARY CCA AVAILABLE - ORDINARY CCA TAKEN
  NOTIONAL PRN AVAILABLE - NOTIONAL PRN TAKEN

  A T is displayed on the right of the capital cost allowance field to denote that the amount is a terminal loss. An R is displayed to denote that the amount is a recapture of capital cost allowance.

The CCA Listing EOY - DECL report [R1302B]

The CCA Listing EOY - DECL report [R1302B] reports on assets and pools on one of the declining balance CCA calculation methods, sorted by tax entity and class, and includes the following information:

• ASSET
  The asset number is displayed. This field is left as blank if the information displayed pertains to a pool.
  
  
• OPENING UNDEPRECIATED CAPITAL COST
  
  
• CAPITAL COST OF ADDITIONS
  The total capital cost of assets with in-service dates within the last fiscal year is displayed.

• ADJUSTMENT
  
  
• DISPOSITION - CAPITAL COST
  The total capital cost of assets sold during the last fiscal year is displayed.

• DISPOSITION - PROCEEDS
  The proceeds from the sale of assets during the last fiscal year is displayed.

• UNDEPRECIATED CAPITAL COST
  The undepreciated capital cost is displayed. It is calculated as follows:

OPENING UNDEPRECIATED CAPITAL COST
+ CAPITAL COST OF ADDITIONS
+ ADJUSTMENT
- THE LESSER OF (CAPITAL COST OF DISPOSITION,PROCEEDS OF DISPOSITION)

• 1/2 REDUCTIONThe reduction applicable to the half-year rule is displayed. It is calculated as follows:

1/2
* (CAPITAL COST OF ADDITIONS
+ ADJUSTMENT
- THE LESSER OF (CAPITAL COST OF DISPOSITION,PROCEEDS OF DISPOSITION))

• REDUCED UNDEPRECIATED CAPITAL COST
  The result by deducting the 1/2 DEDUCTION from the UNDEPRECIATED CAPITAL COST is displayed.

• CAPITAL COST ALLOWANCE
  The capital cost allowance is displayed. It is calculated as follows:

  REDUCED UNDEPRECIATED CAPITAL COST
  * THE EFFECTIVE RATE

  A T is displayed on the right of the capital cost allowance field to denote that the amount is a terminal loss. An R is displayed to denote that the amount is a recapture of capital cost allowance.
  
  
  

CCA Listing EOY - SL report [R1302C]

The first form of the CCA Listing EOY - SL report [R1302C] reports on assets in separate classes using one of the straight line CCA calculation methods, sorted by tax entity and class, and includes the following information:

• OPENING UNDEPRECIATED CAPITAL COST
  
  
• ADJUSTMENT
  
  
• CAPITAL COST OF THE ASSET
  The capital cost of the asset as entered through the Add Asset of the New Lease update [U0101] is displayed.

• PROCEEDS
  
  
• UNDEPRECIATED CAPITAL COST
  
  
• CAPITAL COST OF THE ASSET
  The capital cost of the asset as entered through the Add Asset of the New Lease update [U0101] is displayed. This field is redisplayed here for the calculation of the capital cost allowance for the last fiscal year.

• RATE %
  The effective rate for the last fiscal year is displayed.

  If the CCA calculation method for the asset is SL02, then 50% of the capital cost is allowed for 2 consecutive years. If the CCA calculation method for the asset is SH02, then 25%, 50%, and 25% of the capital cost is allowed for 3 consecutive years.

• CURRENT CCA
  The result by multiplying the capital cost of the asset with the effective rate is displayed.
  
  
• PREVIOUS CCA NOT TAKEN
  The capital cost allowance allowed but not taken for the fiscal year immediately before the last fiscal year is displayed.

• CAPITAL COST ALLOWANCE
  The result by adding the CURRENT CCA to the PREVIOUS CCA NOT TAKEN is displayed.

  A T on the right of the capital cost allowance field denotes that the amount is a terminal loss. An R denotes that the amount is a recapture of capital cost allowance.

CCA Listing EOY - SL report [R1302C]

The other form of the CCA Listing EOY - SL report [R1302C] reports on pools using one of the straight line CCA calculation methods, sorted by tax entity and class, and includes the following information:

• OPENING UNDEPRECIATED CAPITAL COST
  
  
• CAPITAL COST OF ADDITIONS
  
  
• ADJUSTMENT
  
  
• ADJUSTED CAPITAL COST OF ADDITIONS
  The adjusted capital cost of assets with in-service dates within the last fiscal year is calculated by adding the ADJUSTMENT amount to the CAPITAL COST OF ADDITIONS.

  The result is labeled (A) to be used for calculations of the CCA for the last fiscal year.

• CAPITAL COST OF DISPOSALS
  
  
• PROCEEDS FROM DISPOSALS
  
  
• UNDEPRECIATED CAPITAL COST
  If a terminal loss or recapture is in effect, a label stating this is displayed instead. This field is labeled (B).

• 25% * LESSER OF (A) & (B)
  The result of applying 25% to the lesser of the adjusted capital cost of assets with in-service dates within the last fiscal year and the undepreciated capital cost is displayed.

  If the Straight Line method does not use the half-year convention, then 50% is displayed instead of 25%.

  The result is labeled (C) to be used for the calculations.

  Note that this field is not displayed if a terminal loss or recapture is in effect.

• ADJUSTED CAPITAL COST OF ASSETS LAST YEAR
  The adjusted capital cost of assets with in-service dates within last fiscal year is displayed. The adjusted capital cost is calculated by deducting the adjustment amount entered for the fiscal year before the last fiscal year.
  The result is labeled (D) to be used for the calculations. Note that this field is not displayed if a terminal loss or recapture is in effect.

• 50% * (D) + (((B) - (A)) - ((D) * 75%))
  The amounts labeled (A) through (D) are used to calculate an amount labeled (E). The formula used in the calculation is displayed.

  If the latter part of the formula results in a negative amount, then a zero is used instead.
  
  If the Straight Line method does not use the half-year convention, then 50% is displayed instead of 75% as the last part of the field label.

  Note that this field is not displayed if a terminal loss or recapture is in effect.

• LESSER OF ((B) - (A)) & (E)
  The amounts labeled (A), (B) and (E) are used to calculate an amount labeled (F). The formula used to calculate (F) is displayed.

  If the former part of the formula results in a negative number, then a zero is used instead.

  Note that this field is not displayed if a terminal loss or recapture is in effect.

• CAPITAL COST ALLOWANCE (C) + (F)
  The capital cost allowance is the result of adding (C) and (F).

  Note that this field is not displayed if a terminal loss or recapture is in effect.

CCA Listing EOY - Pooled Assets report [R1302D]

The CCA Listing EOY - Pooled Assets report [R1302D] reports at the asset level on assets that are placed in pools, sorted by tax entity, class, portfolio, company, region, and office, and includes the following information:

• ASSET
  The asset number is displayed.

• DESCRIPTION
  The asset description, as entered through the Add Asset of the New Lease update [U0101], is displayed.
  
  
• IN-SERV DATE
  The date the asset was placed in service, as entered through Add Asset of the New Lease update [U0101], is displayed. The in-service date is the starting date for depreciation.
  
  
• STAT
  One of following asset status classifications is displayed:

• INVENTORY
  The asset is off-lease and in inventory. Assets are placed in inventory either through the Add Asset option of the New Lease update [U0101] or through the Termination option of the Payoff update [U0103].

• ON-LEASE
  The asset is on-lease. Assets are place on-lease through the Book Lease option of the New Lease update [U0101].

• SOLD
  The asset has been sold. Assets are sold either through the Payoff option or the Sale of Asset in Inventory option of the Payoff update [U0103].

• CAPITAL COST
  The capital cost of the asset, as entered through the Add Asset of the New Lease update [U0101], is displayed.

• PROCEEDS
  
  
• ORDINARY CCA
  The cumulative capital cost allowance that would have been available for the asset as of the end of last fiscal year, had the asset been placed in a separate class and fully depreciated during that time.

• ITC
  The Investment Tax Credit as entered through Add Asset of the New Lease update [U0101] is displayed.

CCA Summary EOY report [R1302E]

The CCA Summary EOY report [R1302E] summarizes capital cost allowance, terminal losses, or recapture of capital cost allowance available and CCA taken on the assets and pools, sorted by tax entity and class. It includes the following information:

• ASSET
  The asset number is displayed. This field is left as blank if the information displayed pertains to a pool.

• T
  The type of information on a particular detail line is displayed.
  
  
  • L The information displayed pertains to a specified leasing property.
  • O The information displayed pertains to an asset placed in a separate class
  • *P The information displayed pertains to a pool.
    
    
• UNDEPRECIATED CAPITAL COST
  The undepreciated capital cost for the asset or the pool is displayed.

• CAPITAL COST ALLOWANCE
  The capital cost allowance allowed on the asset or the pool is displayed.

• CCA TO TAKE
  The capital cost allowance to take for the last fiscal year is displayed.
  
  
• ENDING UNDEPRECIATED CAPITAL COST
  The result from deducting the CCA TO TAKE from the UNDEPRECIATED CAPITAL COST is displayed.
  
  
• TERMINAL LOSS
  The terminal loss, if applicable, is displayed.

• RECAPTURE
  The recapture of CCA, if applicable, is displayed.

• ITC
  The Investment Tax Credit entered through the Add Asset of the New Lease update [U0101] is displayed. This field is left as blank if the information displayed pertains to a pool.

• COMMENTS
  The comments entered through the CCA Adjustment update [U1502] is displayed. If the comments cannot be displayed in one line, they will be continued on the next line under the same column.
  
  
• TOTALS/GRAND TOTALS
  The page totals for the CCA Listing EOY - SLP report [R1302A] and the CCA Listing EOY - DECL report [R1302B] reflect the number of assets and pools, all dollar amounts, and total capital cost allowance, which is the result of all capital cost allowance available and terminal losses less recapture. Sub-totals are shown for each class and tax entity.

  The page totals for the CCA Listing EOY - SL report [R1302C] reflect the number of assets placed in separate classes, all dollar amounts, and total capital cost allowance, which is the result of all capital cost allowance available and terminal losses less recapture. The page totals are displayed after the pool information. If there are no assets placed in separate classes, page totals are not displayed. Note that the pool information is not included in the page totals on the CCA Listing EOY - SL report [R1302C]. Subtotals are shown for each class and tax entity.

  The grand totals for the CCA Listing EOY - SLP report [R1302A], CCA Listing EOY - DECL report [R1302B], and CCA Listing EOY - SL [R1302C] are shown for all assets and pools listed and the capital cost allowance, terminal losses, and recapture amount.

  The page totals and the grand totals for the CCA Listing EOY - Pooled Asset report [R1302D] are shown for all assets listed grouped by non-sold, sold, and current additions.

  The page totals for the CCA Summary EOY report are shown for all assets and pools listed and all dollar amounts. Grand totals are shown for all entries listed and the dollar amounts of terminal losses, recapture, capital cost allowances, and the capital cost allowances to claim.

© 2001 by McCue Systems Incorporated.
All rights reserved.

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