Scotiabank's Annual Report is online now. Explore here. We are dedicated to helping our 23 million customers become better off through a broad range of advice, products and services.. We are dedicated to helping our 23 million customers become better off through a broad range of advice, products and services.
No other assets were added, and only prior year assets were depreciated in 2013. My question relates to being able to elect OUT of the bonus depreciation on the amended 2013 return... I see the rule that a missed election out can be made on an amended return if file within 6 months of original due date.
Bonus depreciation must be considered by a taxpayer for qualifying assets on a class life basis. A taxpayer who chooses to benefit from 100% first-year bonus depreciation on its non-vehicle assets, in the same class, will be subject to bonus depreciation on its vehicles as well.