Which Asset Class?

ACCTG 467: Matching Assets to their Tax Class

Bulidings Aquired After 1988

Class 1

Bulidings Aquired Before 1988

Class 2

Furniture

Class 8

Appliances

Class 8

Non-Manufactoring Equipment

Class 8

Outdoor Advertising Signs

Class 8

Delivery Vans

Class 10

Passenger Vehicles (< $38000)

Class 10

Passsenger Vehicles (> $38000)

Class 10.1

Zero-emisson Vehicles

Class 10.1

A book that is part of a lending library

Class 12

Chinaware, cutlery or other tableware

Class 12

Kitchen Utensils (< $500)

Class 12

Medical or dental instruments (< $500)

Class 12

Linen

Class 12

A Tool (< $500)

Class 12

A Uniform

Class 12

Rental Apperal or Costumes, including accessories

Class 12

Computer Software (not Application Software)

Class 12

Costs to Obtain or Extend a Lease

Class 13

Leasehold Improvements or Altercations that are capital in nature

Class 13

Patents (if elected)

Class 14

Franchises

Class 14

Concessions

Class 14

Licenses

Class 14

Customer Lists

Class 14.1

Unlimited life Trademarks, fram quotas, licenses, and franchises

Class 14.1

Incorporation Costs (> $3000)

Class 14.1

Appraisal Costs, if the asset was not acquired

Class 14.1

Goodwill

Class 14.1

Computer Hardware

Class 50

Systems Software (acquired after 2011)

Class 50

Machinery and Equipment (Acquired 2015 - 2026)

Class 53

Machinery and Equipment (Acquired 2007 - 2016)

Class 29

Machinery and Equipment (Acquired before 2007)

Class 43

Zero-Emissions Vehicles (Acquired after 2019)

Class 54

Buildings acquired before 1988.

Class 3

Buildings made of frame, log, stucco on frame, galvanized iron or corrugated metal. Additionally it was acquired before 1979, used for farming or fishing, or has no footings or other base supports below ground level.

Class 6

Depreciable property, like surface construction like roads, parking lots, sidewalks, airplane runways, storage areas, and related paving.

Class 17

Patents

Class 44

Computer hardware and systems software (Acquired (2004 - 2007))

Class 45

Computer hardware and systems software (Acquired (2007 - 2011))

Class 52