According to the CRA, for a Lease to Be Valid

question 29

True/False

According to the CRA, for a lease to be valid for tax purposes, then the term of the lease must be less than 90% of the economic life of the asset.

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Definitions:

Organisms

Individual living entities that can react to stimuli, reproduce, grow, and maintain homeostasis.

Diastolic Pressure

Blood pressure when the left ventricle is most relaxed; lowest pressure of the cardiac cycle.

Mm Hg

Millimeters of mercury, a unit of pressure commonly used to measure blood pressure, atmospheric pressure, and other types of low pressure.