Carney Expands Tax Write-Off to Pipelines and Mining Assets as Canada Courts Investment
Updated
Updated · Bloomberg · Sep 15
Carney Expands Tax Write-Off to Pipelines and Mining Assets as Canada Courts Investment
3 articles · Updated · Bloomberg · Sep 15
Summary
Prime Minister Mark Carney broadened Canada’s accelerated investment tax write-off to cover oil and gas pipelines, mining property and other assets previously outside the measure.
Tuesday’s move is aimed at drawing more capital into Canadian projects across natural resources, manufacturing and other sectors by improving after-tax returns on new investment.
Dozens of firms gathered at Toronto’s Four Seasons hotel for the government’s investment summit, where officials are discussing possible stakes in Canadian projects.
The expanded tax break ties the summit’s pitch to a concrete policy incentive as Ottawa tries to channel more private money into major domestic developments.