Deduct the whole cost in year one: what the Productivity Mega Deduction would do
https://www.orbisaccounting.ca/guides/immediate-expensing-mega-deduction/


What it would change

What would qualify, and what would not

What to record so a claim can be made
[ ] Keep the invoice for every asset, showing the date acquired and the cost
[ ] Record the date each asset became available for use, which can differ from the purchase date
[ ] Keep an asset register that separates capital purchases from ordinary expenses
[ ] Keep the GST and PST treatment on each invoice; the deduction does not change either
[ ] Tell whoever prepares your return about every capital purchase, and when it started being used
[ ] Do not buy or time a purchase for the deduction until the legislation is final

Orbis Accounting Ltd. · Checklist only. See the guide for context.