New Mega Deduction a Good Start, But More Tax Reforms Are Needed

The Federal government has unveiled a Productivity Mega Deduction, which will provide immediate expensing under Capital Cost Allowance (CCA) provisions for a broad range of depreciable property, importantly on a permanent basis, for acquisitions on or after September 15, 2026. Check out the noteworthy exclusions are listed below. This tax reform is a good start, but much more needs to be done, especially for small business owners and average taxpayers to make Canada truly competitive across our tax base.

New Income Tax Estimator Can Help Last week CRA issued the 2015 TD1 Personal Tax Credit Return and the corresponding provincial forms. 

This Week:  It’s a Tax Question:  Win A $100 Gift Certificate Be one of 10 recipients of a  $100 gift certificate towards any Knowledge Bureau online course. Hurry – this is the last chance to win until the new year.  You can only win once - so be the first one to answer this question correctly.  Here’s the question: What is the net income amount at which the Old Age Security received by a senior is completely clawed back for 2014?    

Knowledge Bureau’s November Poll Question attracted close to 200 respondents to the question: Do You Think the New Family Tax Cut Provisions will Help Canadian Families Save and Invest More for the Future? 

Grow your business with the DFA - Tax Services Specialist™ Designation. Join Knowledge Bureau in congratulating Patricia Bailey in achieving her DFA - Tax Services Specialist™ Designation. Patricia Bailey DFA - Tax Services Specialist™. "My clients are more confident in the work I do for them because of this designation" Patricia is located in Milton, Ontario.  Her company is approximately 3 years old with a growing client base. “Achieving this designation has equipped me with the knowledge needed to grow and succeed.”

Disciplined investors sell at the top of a cycle and buy at the bottom.

Grow your business with the DFA - Bookkeeping Services Specialist™ Designation.