27 November 2018 Canada’s Finance Minister presents Federal Fall Economic Statement including significant acceleration of CCA for most capital investments Finance Minister Bill Morneau presented the Fall Economic Statement in the House of Commons on November 21. On the same day, the Minister tabled a notice of ways and means motion to amend the Income Tax Act and the Income Tax Regulations, which was accompanied by explanatory notes relating to these measures. Finance states that these changes are in part to address “the challenge” of US Tax Reform. In the absence of the tax measures proposed in the Fall Economic Statement, “it is expected that … US tax reforms could significantly reduce the overall tax advantage that Canada has built over the years, doing potential harm to investment, jobs, and economic growth in Canada.” Document ID: 2018-2345 |
