There are only two weeks left to take advantage of the Canadian Government’s 100% Tax Credit on any computer equipment or software purchased between January 27, 2009 and January 31, 2011!
The tax credit is applicable to any purchase that falls into the Capital Cost Allowance, Class 52. This includes new workstations/computers, servers, laptops, printers and system software. Since software alone can take up much of an IT budget, Canadian business owners should strongly consider the benefits of investing in IT during this tax credit time frame.
To qualify for the tax credit, your newly purchased asset must also:
- Be situated in Canada;
- Not have been used, or acquired for use, for any purpose before it is acquired by the taxpayer;
- Be acquired by the taxpayer:
- For use in a business carried on by the taxpayer in Canada or for the purposes of earning income from property situated in Canada; or
- For lease by the taxpayer to a lessee for use by the lessee in a business carried on by the lessee in Canada or for the purpose of earning income from property situated in Canada.
Essentially, if it is a new IT purchase, and being used for your business in Canada, you will earn a 100% tax deduction for your new computer equipment and software.
To access the Revenue Canada site outlining this tax program, please click here.
Register in the form at right, or call Emerald Associates today to get started!
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Our company has a team of dedicated professionals to provide innovative and long-lasting project management solutions through implementation expertise, collaboration, and ongoing support. Your success is our success!
