Tax Alert – Canada

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FES announces significant acceleration of CCA

No. 40, 22 November 2018

On 21 November 2018, Finance Minister Bill Morneau presented the Fall Economic Statement in the House of Commons. On the same day, the Minister tabled a notice of ways and means motion to amend the Income Tax Act and the Income Tax Regulations, which was accompanied by explanatory notes relating to these measures.

The statement introduced three key capital cost allowance (CCA) acceleration measures:

  • Full expensing for M&P machinery and equipment
  • Full expensing for clean energy equipment
  • An accelerated investment incentive.

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