Matthew Lau: Productivity Mega Deduction another case of Carney having the right idea, wrong policy
To give credit where it's due: finally, after 18 months in office, Prime Minister Mark Carney has announced a substantial economic policy change to improve Canada’s business environment.
His “Productivity Mega Deduction,” which permanently allows businesses to immediately deduct the cost of new investments on a wide range of machinery, equipment and technology is a meaningful change.
The government estimates that the new policy halves Canada’s marginal effective tax rate on new business investments from approximately 13 to 6.4 per cent.
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