Type:
Insight
Date:
28 January, 2022
Author:
Trevor Tamke
Federal Budget 2021 provides an upfront tax incentive for Canadian-controlled private corporations (CCPC) to undertake significant capital asset purchases. It does so by allowing for the immediate deduction of up to $1.5 million of certain depreciable property purchased from arm’s-length parties between April 19, 2021, and January 1, 2024.