ACCELERATE INVESTMENT IN IT
Montreal, January 28, 2009 - Accelerate your investments in IT and take advantage of the temporary 100-per-cent capital cost allowance rate for computer hardware and systems software acquired after January 27, 2009 and before February 1, 2011.
This new temporary measure was announced yesterday by Jim Flaherty, Minister of Finance, in his comprehensive budget plan to provide assistance to businesses in all sectors to invest in newer technology.
"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.
It is estimated that this measure will cost $340 million in 2009-10 and $355 million in 2010-11." (Canada's Economic Action Plan, Action to Support Businesses and Communities)
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