You may buy property that does not physically exist, but gives you a lasting economic benefit.
Some examples are goodwill and licences for an unlimited period.
We call this kind of property eligible capital property . The price you pay to buy this type of property is an eligible capital expenditure . We consider licences with a limited period to be depreciable properties, not eligible capital properties. You cannot deduct the full cost of an eligible capital expenditure, since the cost is capital and gives you a lasting economic benefit. However, you can deduct part of its cost each year.