This is any property on which you can claim a capital cost allowance (CCA).
Depreciable property is usually capital property used to earn income from a business or property. The capital cost can be written off as capital cost allowance (CCA) over a number of years.
You usually group depreciable properties into classes. For example, diggers, drills, and tools acquired after May 1, 2006, that cost $500 or more belong in Class 8. You have to base your CCA claim on the rate assigned to each class of property.