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Enhanced CCA—Green Off-Road Vehicles & Equipment

Enhanced CCA—Green Off-Road Vehicles & Equipment

Finance will expand its green incentive to include more zero-emission vehicles & equipment

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Finance announced it will propose a temporary enhanced first-year capital cost allowance (CCA) rate of 100% for qualifying zero-emission off-road automotive vehicles and equipment, acquired on or after March 2, 2020. The enhanced rate will apply to qualifying vehicles and equipment that do not currently benefit from the enhanced CCA for zero-emission motor vehicles, which was introduced in the 2019 federal budget. The 100% CCA rate will gradually be phased out for vehicles and equipment that become available for use after 2023, until it eventually expires in 2028. Taxpayers will only be able claim the enhanced allowance for the taxation year in which a qualifying vehicle is first available for use.

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Information is current to March 10, 2020. The information contained in this publication is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavour to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act upon such information without appropriate professional advice after a thorough examination of the particular situation. For more information, contact KPMG's National Tax Centre at 416.777.8500

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