Canadian budget to allow accelerated expensing

The National Post reports that the November 4 Canadian budget — Carney’s first — will include provisions that “allow companies to write off their new machinery and other capital costs more aggressively.”

This is similar to what the US unveiled in the summer and has done in the past. The quicker write-offs deliver an incentive for companies to invest more aggressively. It appears to be working in the US, though there is some criticism that the ‘investment’ is going to things like corporate jets.

The Canadian dollar is higher today after the Bank of Canada rate decision.

This article was written by Adam Button at investinglive.com.