Post by @jordfinance

Canada just announced a major tax change for businesses 🇨🇦 Before, if a business bought $10,000 of equipment, the tax deduction was usually spread over several years. Under the proposed new rules, many eligible purchases could be deducted 100% in the first year. Why is that better? Because getting the deduction now means paying less tax today instead of waiting years to get the same deductions. That keeps more cash in the business now, where it can be reinvested, saved, or used to grow. A $10,000 write off does NOT mean you get $10,000 back. It means your taxable income could be reduced by $10,000. Follow me for more Canadian personal finance and tax updates. Not tax advice. Final rules and eligibility still matter. #CanadianFinance #CanadianTaxes #SmallBusinessCanada #PersonalFinanceCanada #TaxTips