DMCL
APRIL 11, 2022
Effective for eligible flow-through share agreements entered into from April 7, 2022 to March 31, 2027. This initiative addresses the deferral of income related to contract service income which the budget considers to be a non-deductible reserve for tax purposes.
ThomsonReuters
MARCH 7, 2024
Starting from tax years beginning after December 31, 2022, the 100% bonus depreciation deduction will gradually decrease by 20% each year until it reaches a complete phase-out by the end of the 2026 calendar year. This means that deductible amounts will be reduced to 80% in 2023, 60% in 2024, 40% in 2025, 20% in 2026, and finally 0% in 2027.
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