Quote Originally Posted by Lee-Bee View Post
The tax worksop I did at the CCPRN with an accountant said the "rule" is if it costs over $300 and is used for more than 1yr then it uses the depreciated value method. If it is less than $300 or won't last for 1yr then you just use it as supplies.

They also said that during your opening year you don't use the depreciated value for items purchased to get started...I need to confirm this but I am hopeful it is true as I opened this year.
Really?! I know for sure that my accountant claimed dv, and it is my first year...... I hope that it does not screw anything over!