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.

Dean Cockell earned his MFA-Retirement Income Specialist designation in 2008, and since then has been an active Knowledge Bureau alumnus. We are pleased to have Dean as one of our distinguished grads.

Since Nortel no longer trades, how do I dispose of the shares in doing a tax calculation? What would be the ACB, considering there was a reverse stock split before the shares were delisted?

Knowledge Bureau is a national post-secondary educational institute and publisher focused on excellence in financial education. Our mission is to provide professionals and their clients the knowledge and skills to make sound financial decisions in our world class virtual campus.

Miss the Personal Tax Bootcamp? You can still get your copy of the best reference tool to have on hand. Catch up with what’s new at Finance and CRA as well as line-by-line updates on the T1 return for 2013.

Author Catherine Bell will be a featured speaker at several events across Southern Ontario over the next few weeks to celebrate the launch of her new book, Empower Your Presence. Order your copy today and learn how to build true wealth with your personal brand and image.

Prepare books in a computer-based double entry system, analyze and report transactions within the accounting cycle, and prepare financial statements ready for tax preparation with Basic Bookkeeping for Small Businesses.