Carney government introduces mega-deduction tax measure to spur more investment in Canada

The government announced a major tax reform at the Canada Investment Summit that will allow businesses to write off investments. The productivity mega-deduction will allow companies to expense the total cost of new investments across a number of sectors, including machinery, equipment, clean energy, zero-emission vehicles and more. "Our goal is simple — to make Canada the most attractive place in the G7 to invest," Prime Minister Mark Carney said at the summit. The program is an expansion of the government's earlier productivity super-deduction outlined in last year's budget, which initially extended to a limited selection of investments in things...