Carney Unveils $36 Billion Business Tax Break as Canada Broadens Capital Write-Offs
Updated
Updated · Toronto Star · Sep 15
Carney Unveils $36 Billion Business Tax Break as Canada Broadens Capital Write-Offs
3 articles · Updated · Toronto Star · Sep 15
Summary
$36 billion over five years is the projected cost of Carney’s new “productivity mega deduction,” announced on day two of his Investment Summit to spur business investment in Canada.
The measure lets companies fully write off a wider range of capital-asset spending, expanding the expenses eligible for immediate deduction.
At the same Toronto summit, Carney had already widened a major investment write-off to cover oil and gas pipelines and mining property.
The package underscores Ottawa’s push to draw more investment into natural resources, manufacturing and other Canadian industries.