Rewarding investment and driving recovery

Eligible incorporated Alberta businesses are now able to fully write off the cost of qualifying capital assets in the year of acquisition, which will help encourage investment. Adopting the temporary expensing measure will allow firms to immediately expense up to $1.5 million in new capital investment.

This is expected to free up more than $100 million for Alberta job creators over the next several years, providing significant benefits to small and medium-sized businesses across a wide range of sectors.

While this is a significant benefit to many job creators in Alberta, the current federal proposal does not include businesses that are publicly traded or unincorporated. Jointly with the provinces of Saskatchewan and Manitoba, Alberta’s government has sent a letter to the Government of Canada advocating for this measure to be extended to unincorporated businesses, such as sole proprietors.

READ MORE HERE