Sole Proprietorship tax questions

Hello PFC,I am thinking of beginning a freelance gig and registering as a sole proprietorship. I am just now weighing the pros and cons. Currently I do very little work, but am considering buying a considerable amount of equipment and expanding operations. I have a specific question but feel free to mention anything conisdered noteworthy.​In regards to class 14.1 goods. “Properties that are included in Class 14.1 and acquired after 2016 will be included in this class at a 100% inclusion rate with a 5% CCA rate on a declining-balance basis and the existing CCA rules will normally apply. ” Can someone put this in simpler terms for me?​Thanks in advance!,CR​​EDIT #1 – Title Should Read ‘Question’ via /r/PersonalFinanceCanada https://ift.tt/3qLlPnM