Tax relief for Businesses

Ottawa, Ontario, October 20, 2010… The Honourable Keith Ashfield, Minister of National Revenue, Minister of the Atlantic Canada Opportunities Agency, and Minister for the Atlantic Gateway, is pleased to announce the launch of the Government of Canada’s advertising campaign promoting the 100% capital cost allowance rate for computers.

Minister Ashfield reminds Canadian business owners that they have until January 31, 2011, to acquire new eligible computer hardware, including systems software, in order to claim 100% of the capital cost allowance.

Announced in Canada’s Economic Action Plan, this temporary tax relief measure allows Canadian businesses to claim a 100% capital cost allowance deduction for eligible computer hardware, including systems software, acquired after January 27, 2009, and before midnight, January 31, 2011.

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