As part of the stimulus package to help during this recession the Federal Government added items to the 2009 budget that will be of interest to business owners who are thinking about or going to be spending money on their businesses IT infrustructure.    Of interest is that businesses will be able to fully deduct the cost of eligible computer hardware and software in the first year instead of showing as a depreciating asset on your books.     Businesses should speak to their accounts and see how this will affect their computer hardware purchases.

“The 2009 Budget proposes a temporary 100% CCA rate for eligible computers and software acquired after January 27, 2009 and before February 2011. This 100% CCA rate would not be subject to the half-year rule and, consequently, a business would be able to fully deduct the cost of eligible computers and systems software in the first year that CCA deductions are available. Eligible computers and systems software must be situated in Canada, used to earn income in Canada, and not previously used for any purpose before acquisition by the taxpayer for use in Canada.”

http://www.osler.com/resources.aspx?id=16772

The above site lists all of the changes – there are many tax measures both business and personal that will result in more dollars in people’s pockets during these difficult times.