2021 Federal Budget Implications for Corporate Tax
The Canadian government introduced the 2021 Federal Budget in April. This year’s focus is on ending the fight against COVID-19 and ensuring economic recovery by creating jobs and growth in Canada. Business related budget themes include job creation, small businesses, and growth. What does this mean for you as a business owner? Here are some budget highlights worth considering as they relate to you and your business. Immediate Expensing of Certain Property Canadian-Controlled Private Corporations can now expense certain eligible capital property. In the past, capital property was expensed over the useful life of the asset, allowing only a portion of [...]