Carney announces Productivity Mega Deduction tax incentive to spur business investment in Canada

The Government of Canada plans to implement a new tax incentive that will allow businesses to immediately deduct the full cost of most new capital investments in the hopes of drawing in more foreign capital. The news: Prime Minister Mark Carney announced the Productivity Mega Deduction on Tuesday at the first Canada Investment Summit in Toronto. The new measure increases the amount of assets covered from 15 to 65 percent, across software, computer equipment, fibre-optic cable, patents, research