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WebBooks would be considered Personal-Use Property according to Canada's income tax laws. The most detailed IT I was able to find is IT-332R, which says:. GAINS AND LOSSES. 3. A … WebFor more information regarding the general tax principles that apply to digital assets, you can also refer to the following materials: IRS Guidance. IRS Notice 2014-21 guides … WebApr 26, 2016 · Taking depreciation annually can lower your income tax payments on the rental income you receive, but it also lowers the basis you claim when selling. And that, in turn, increases your capital ... coles online alcohol discount