Jack Mintz: The ‘mega productivity’ tax deduction — good intentions, wrong policy
At this week’s investment summit, Prime Minister Mark Carney announced a “mega-productivity” deduction that will enable companies to “expense” — that is, write them off immediately — about two-thirds of their capital assets on a permanent basis.
Last year’s “super-productivity” deduction was for just 15 per cent on a time-limited basis.
Business groups were as thrilled as kids in an ice cream shop — on the grounds any improvement in incentives is better than none.
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