27 July 2004 External T.I. 2004-0075751E5 - Recaptured Capital Cost Allowance -- summary under Paragraph 20(1)(a)

Where a building purchased prior to 1972 had a capital cost of $75,000, $40,000 of capital cost allowance was deducted on the building prior to V-Day, and the V-Day value of the building was $120,000, the entire amount of such capital cost allowance previously claimed would be recaptured if the actual proceeds of disposition of the property exceeded its capital cost.