Posted by Ken Macfarlane on December 10, 2016 at 09:32:36 from (104.249.226.173):
In Reply to: Re: My new loader posted by Texasmark1 on December 10, 2016 at 07:58:22:
Not sure its the same down south of the border but corporate taxes here aren't progressive ie its a flat rate.
Second, here they have a 1/2 depreciation rate the first year to discourage exactly what he's talking about but I've read in the US they have the same as here sometimes, special fast depreciation schedules sometimes to encourage investment.
We also have investment tax credits outside of that to encourage investment that can make buying equipment attractive for tax planning.
For our farm its easier to coordinate consumables use with profits for example, doing our liming in a fall where we've had a good year or say putting on P or K in the fall. Another example is we plan expensive repairs to equipment that have been delayed as long as they aren't in the categories of increasing the equipments basis, ie they just get the machine working again, not a major increase in value like a complete overhaul.
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