Adjusted Cost Base

by Tax Guy - Burlington Accountant on February 11, 2010 Print This Post Print This Post

The adjusted cost basis is the original cost plus any costs to bring the asset into operation, including commissions. Certain properties may have specified adjustments allowed in the Income Tax Act.

If property was owned on December 31, 1971 the adjusted costs base is the Valuation Day value provided in the ITAR.

About The Tax Guy...

Dean Paley CGA CFP is a Burlington accountant and financial planner who services individuals and business owners locally, nationally and internationally. Dean has appeared in the National Post, Toronto Star and Metro News.

To find out more, visit Dean's website Dean Paley CGA CFP or connect via Twitter @DeanPaleyCGACFP.

Print This Post Print This Post

Comments on this entry are closed.

Previous post:

Next post: