TORONTO, March 4 /CNW/ - PwC tax specialists commented today:
Today, certain measures were announced to help Canadian manufacturers reduce costs associated with the import of machinery, equipment and goods. There will be no more fast write-offs for general manufacturing equipment, which had been hoped for by the industry.
The notable action included:
- Making Canada a tariff free zone for industrial manufacturers by
eliminating all remaining tariffs on machinery and equipment and
goods imported for further manufacturing - a savings of $300 million
in annual duty for Canadian business, to support investment and
growth and create jobs.
A PwC Budget Flash with additional Budget highlights has been issued today followed by a detailed Budget Memo later this evening. For more information and detailed commentary on the Budget please contact, Kiran Chauhan, email@example.com, 416-947-8983 or visit www.pwc.com/ca/budget.
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For further information: For further information: Kiran Chauhan, (416) 947-8983, firstname.lastname@example.org