October 2010 Archives

CRA promotes tax relief for businesses

The Canada Revenue Agency (CRA) has announced the launch of the Government of Canada's advertising campaign promoting the 100% capital cost allowance rate for computers.

According to this announcement Canadian business owners now have until January 31, 2011, to acquire new eligible computer hardware, including systems software, in order to claim 100% of the capital cost allowance.

This temporary tax relief measure was previously announced in Canada's Economic Action Plan. It 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.

For more information on tax relief for businesses, please see the CRA website at: www.cra.gc.ca/taxcuts