Budget 2021 proposed measures to encourage Canadian Controlled Private Companies to purchase certain capital property by offering accelerated tax depreciation. In more cases, the impact will be to triple the amount of expense that can be claimed in the first year relating to these types of purchasers. For certain machinery and equipment used in manufacturing, full expensing is allowed. These measures for purchases made between April 19, 2021 and December 31, 2023, up to a maximum of $1.5M/year among an associated group of companies. If the full $1.5M is not used in a year, the difference does NOT carry forward. It should be noted that this does not represent a pure tax savings to eligible companies, but rather a deferral of tax to future years. read more