Small businesses will get a helping hand with some key expenses under Canada’s 2009 budget, which calls for $30 billion in economic stimulus—because part of that money will go to tax breaks that make it cheaper for businesses to invest in computer technology.
In the past, the Canadian government has required that assets be depreciated over their useful life. For computers, that could be many years.
Under Budget 2009, any computer equipment purchased between January 27, 2009, and February 1, 2011, can be fully depreciated in the first year of use.
This reduces the cost of computer ownership, making it easier for small businesses to acquire the e technology they need to stay competitive in today’s challenging economic environment.
As a result, now might be a good time to consider upgrading your computer technology. Your financial advisor can help you determine if the tax cut applies to you.
Good News for Small Businesses in Canada’s 2009 Budget
In the past, the Canadian government has required that assets be depreciated over their useful life. For computers, that could be many years.
Under Budget 2009, any computer equipment purchased between January 27, 2009, and February 1, 2011, can be fully depreciated in the first year of use.
This reduces the cost of computer ownership, making it easier for small businesses to acquire the e technology they need to stay competitive in today’s challenging economic environment.
As a result, now might be a good time to consider upgrading your computer technology. Your financial advisor can help you determine if the tax cut applies to you.