Buy a computer, write it off on your taxes!
January 23rd, 2010 Posted in General thoughts | No Comments »If you purchase a computer or software between now and January 31, 2011, you can write off the full amount on that year’s taxes! No half rule applies. Add it under Class 52 in Schedule II of your tax return.
http://www.gazette.gc.ca/rp-pr/p2/2009/2009-06-10/html/sor-dors155-eng.html
Objectives
The objective of this amendment is to ensure that the correct application date applies to new Class 52 in Schedule II to the Income Tax Regulations. In the case of computer equipment described in new Class 52, the measure is temporary and is intended to encourage businesses to invest in new computers and systems software.
Description
This amendment ensures that the temporary 100% CCA rate for certain computers and systems software (new Class 52) applies to such assets acquired after January 27, 2009 and before February 2011.
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