Tax Alert – Canada
CCA acceleration enacted
No. 27, 24 June 2019
On 21 June 2019, Bill C-97, Budget Implementation Act, 2019 No. 1, which implements certain tax measures announced in the 2019 federal budget and the 21 November 2018 federal fall economic statement (as well as other previously announced measures), received Royal Assent.
As a result, the business income tax measures contained in Bill C-97 are now enacted for financial reporting purposes. Most notably, the capital cost allowance (CCA) acceleration measures that were first announced in the 21 November 2018 federal fall economic statement, including some modifications since their initial release, are now enacted.
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Tax Alert 2019 Issue No. 27
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