Canada will seek private investment at 4 largest airports, Carney says at summit aimed at boosting economy

PM announces a productivity ‘mega deduction’

Carney also announced a way for businesses to write down investments, which he’s calling the productivity “mega deduction.”

The government will allow immediate expensing for most new capital investments, and two-thirds of assets will qualify for projects including machinery, manufacturing equipment, rail, pipeline and other infrastructure. 

This is an expansion of a “productivity super deduction” measure included in last year’s budget, which lets businesses write down eligible investments in equipment, machinery and technology.

Today’s announcement expands that to many more kinds of projects.

Carney also joked about the name.

“We call it the productivity mega deduction, in part because we used super deduction in the last budget.”