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ARTICLE · 18 OCTOBER 2023

Immediate Expensing: Budget 2021 And The Expanding Opportunities

Crowe
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In 2021, the Department of Finance unveiled an enticing opportunity for certain Canadian businesses to immediately claim up to $1.5 million per year in depreciation expense on eligible properties.

CanadaFinance and Banking
Brian Steeves
Brian Steeves
Garrett Louie
Garrett Louie
Stephen Zhang
Stephen Zhang
Quyen Do
Quyen Do
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In 2021, the Department of Finance unveiled an enticing opportunity for certain Canadian businesses to immediately claim up to $1.5 million per year in depreciation expense on eligible properties. This strategic move was designed to bolster the economy, facilitate business growth, and incentivize investments in the nation.

In this article, Crowe MacKay's tax advisors help Canadians navigate the complexities of the immediate expensing framework introduced in Budget 2021. Our experts share details on qualifying assets, eligibility, and crucial deadlines related to the policy. By staying informed, businesses can optimize their investments and leverage tax benefits. If you require assistance, connect with us in Alberta, British Columbia, Northwest Territories, or the Yukon.

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The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.

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