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.

As business owners age and approach retirement, they become increasingly concerned with setting up a proper business succession plan. They often know it’s an important issue that requires expert advice, but not many know how to start the conversation. 

The Boomers are the wealthiest generation in Canada’s history. And as such, they have complex financial problems that require the expertise of a highly skilled financial advisor.

Try our trivia question and get in on a chance to win a free registration to the Distinguished Advisor Conference (DAC) in the spectacular wine country of BC. Meet Canada’s top advisors and reflect with them on this year’s theme, Canada 150: Financial Advice at the Crossroads of Change.

Increase your knowledge and value proposition with DFA - Tax Services Specialist™ designation—Chad Kruger, Alberta

Student loan indebtedness is a burden that often haunts graduates for many years after they have completed their post-secondary education. According to a Statistics Canada report from 2012, the average university student’s debt is $21,700. Fortunately, there is some relief on the tax return.

This is the second in the Provincial Budget Roundup series. This week, we present a brief summary of the tax provisions from the western and prairie provinces: