Business Initiatives

Immediate 100% CCA expensing for new additions of property in respect of the following three classes would be provided if the property is acquired on or after April 16, 2024 and becomes available for use before January 1, 2027: class 44 (patents or the rights to use patented information for a limited or unlimited period); class 46 (data network infrastructure equipment and related systems software); and class 50 (general-purpose electronic data-processing equipment and systems software).

The 100% capital cost allowance (CCA) write-off for stationary, mobile and other qualifying equipment ended January 1, 2024 for corporations but continues until December 31, 2024 for individuals and partnerships of individuals.  This initiative ended January 1, 2024 for partnerships where a corporation is a partner.For corporations, the initiative announced in the 2018 budget to write off one and a half of qualifying asset purchases applies until December 31, 2027.  For example, stationary equipment normally qualifies for a 10% CCA but qualifies for 25% CCA in the year of purchase and mobile equipment qualifies for 45% CCA in the year of purchase as long as the asset was not purchased from a non-arm's length person.