A new government tax incentive means now is the time to buy and upgrade your workplace technology.
Tax incentive in Budget 2009 increases the CCA rate to 100 per cent (100%) for computers, hardwares and systems software acquired after January 27, 2009 and before February 1, 2011.
This budget is temporary for two years only that allows businesses to fully write off computer investments.
Budget 2009 proposes a temporary 100-per-cent CCA rate for computer hardware and systems software acquired after January 27, 2009 and before February 1, 2011.
In addition, the rule that restricts CCA deductions to one-half of the CCA write-off otherwise available in the first year will not apply to these computers.
This temporary measure will allow taxpayers to fully expense their investment in computers in one year.
The measure will provide stimulus by assisting businesses to increase or accelerate investment in computers.
It will also contribute to boosting Canada's productivity through the faster adoption of newer technology.
Businesses in all sectors of the economy, including the service sector, will benefit from this incentive.
Reminder of the Old Tax Rules: > $2,750 write off in the first year > annual diminishing-balance deductions afterward
New tax rules: > $10,000 tax write off immediately
Tax incentive for this budget is great and business must take advantage before it expires Ferbuary 1, 2011
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