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.

We love sharing feedback from our recent graduates. This week we feature the success story of Delores Moskal from Yorkton, Saskatchewan, who recently graduated from Knowledge Bureau’s Business Valuation for Advisors course.

"Take criticism seriously, but not personally. If there is truth or merit in the criticism, try to learn from it. Otherwise, let it roll right off you." Hillary Clinton

According to the Conference Board of Canada, organizations that are committed to a strong learning environment for their employees will perform better than their competitors.  In fact, there are a number of tax advantages, too.

Finance Canada proposed changes to the $2000 Pension Income Amount in the September 20 release of sixty-four changes to the Income Tax Act and Regulations.  

Statistics Canada’s issued two reports on September 15; one reporting good news on the value of household wealth; the other showing that the value of employer-sponsored pension funds declined.  

The Canada Revenue Agency has announced the final prescribed interest rates that will apply to any amounts owed to the CRA and to any amounts the CRA owes to individuals and corporations in 2016.