On February 11, 2022, CRA updated the “What’s new for corporations?” page.
The following comment was included in respect of the Budget 2021 proposal to allow immediate expensing of many capital asset purchases by CCPCs:
“As of December 31, 2021, the legislation had not been tabled. The legislation must be tabled in the House of Commons before you can include any claims with your T2 Return.”
Supporting draft legislation was released for consultation on February 4, 2022.