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.

Join Evelyn Jacks on Friday, November 29 for a live online chat with MoneySense. It's your chance to ask Jacks your burning tax questions and have her respond right away. We challenge you to stump her...don't bet on it! Register for free at moneysense.ca/taxchat.

Toronto, Ontario.  Why are highly educated young people unable to land great jobs and move out of the basement? Is it about youth and inexperience or is it about standing out in a lacklustre economy? Catherine Bell thinks it’s about “Presence.” 

Sharpen and refresh your knowledge in time for the upcoming busy 2014 tax season with the Personal Tax Bootcamp. Enrol by November 30 for best tuition prices.

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Be prepared to discuss cross border taxation with a comprehensive general knowledge, as well as recognize and advise on how certain actions on both sides of the border affect a person’s tax situation. Enrol in Cross Border Taxation by December 4 and save $200 on tax deductible tuition fees.

Use Knowledge Bureau’s Donations Savings Calculator to help determine the tax savings and after-tax cost of charitable donations. Try a free demo!