The Ministry of Finance of Canada has declared the tax deductions provided to the manufacturing and processing sector on September 18, 2013 to write off investments in new equipment and machinery will be prolonged by two years.
An extension to the accelerated capital cost allowances has been announced in the 2013 budget statement. This contains a straight line 50% depreciation rate instead of a declining balance rate. By using depreciation rate straight line brings forward the amount of depreciation that can be claimed.
