NEW – AB: Alberta to parallel federal government’s capital cost allowances for clean energy equipment
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The Alberta government announced that eligible incorporated Alberta businesses are able to fully write off the cost of qualifying capital assets in the year of acquisition.
One of the eligible items that will interest CPA members is that the province is paralleling federal budget changes regarding the capital cost allowance treatment of clean energy equipment (classes 43.1 and 43.2). However, members need to be aware that the current federal proposal does not include businesses that are publicly traded or unincorporated. For more information on the program, click here.
