Since November 20th, the Government of Canada proposes that machinery and equipment used in the manufacturing and transformation of goods be eligible for an immediate write-off. The cost of machinery and equipment will be eligible for a full deduction in the year they are commissioned in the business.
The immediate write-off will be effective for qualified assets acquired after November 20, 2018. It will be eliminated gradually from 2024, and will no longer be in effect for investments made after 2027.
THE BENEFITS OF THIS NEW MEASURE
Currently, when you make investments in capital assets such as real estate, machinery and equipment, the tax rules require you to deduct the cost of these investments over the expected period of return of those investments.
New investment incentives will allow you to:
– Reduce your taxes
– Invest in assets that will stimulate the growth of your business
– Invest in your operations and create more high-paying jobs
At a time when labor is becoming increasingly scarce, acquiring CNC machinery can help your business remain competitive. The new measures announced by the Trudeau government now give you one more reason to take action.
In addition to providing you with expert advice on CNC machines that are best suited to your needs, our representatives can also provide you with a detailed analysis of your return on investment. With JRC Machinery, you will make a sound investment!