There are many reasons why now is a great time to upgrade your Point of Sale System , but the most pressing reason expires on January 31, 2011! This month is your last opportunity to take advantage of a rare tax incentive offered by Revenue Canada.
As described on the Canada Revenue Agency website , “the accelerated capital cost allowance (CCA) for eligible computers announced in the 2009 budget allows businesses to claim 100% of computer costs (including systems software) purchased after January 27, 2009 and before midnight, January 31, 2011.”
To qualify for this rate, the asset must:
- be situated in Canada;
- not have been used, or acquired for use, for any purpose before it is acquired by the taxpayer; and
- be acquired by the taxpayer:
- for use in a business carried on by the taxpayer in Canada or for the purposes of earning income from property situated in Canada; or
- for lease by the taxpayer to a lessee for use by the lessee in a business carried on by the lessee in Canada or for the purpose of earning income from property situated in Canada.
We are here to help you take advantage of this great opportunity, contact us today to get started.