The Canadian Government introduced its budget today
("Budget 2012") announcing a number of significant tax
measures. The following is a brief summary of these measures,
many of which come into effect today (the "Budget
Day"). In the coming days, the Fasken Martineau tax
group will be preparing and circulating detailed analysis of many
of these tax changes and describing how they may affect our
clients. Stay tuned.
BUSINESS INCOME TAX MEASURES
Clean Energy Generation Equipment: Accelerated Capital Cost
Allowance (CCA)
Budget 2012 proposes to expand existing incentives relating to
the purchase of clean energy generation equipment.
Currently, the Income Tax Regulations provide an
accelerated CCA rate for taxpayers investing in clean energy
generation and conservation equipment (Class 43.2). Budget
2012 proposes to expand the type of clean energy equipment that is
included in Class 43.2 and eligible for accelerated CCA.
