Canada introduces new Productivity Mega Deduction for new business investment

Today, at the first Canada Investment Summit, Prime Minister Carney announced that the new Productivity Mega Deduction. This new tax incentive will increase the amount of assets covered from roughly 15% of assets to more than 65%, including fibre-optic cable, mining property, oil and gas pipelines, software, research and development, computer equipment, aircraft and vehicles, patents, rail track, bridges, and roads.