CCI Statement on the New Productivity Mega Deduction

Today, Prime Minister Mark Carney announced the Productivity Mega Deduction, which will lower Canada's marginal effective tax rate on new business investment from roughly 13% to 6.4%. In response, Daniel Perry, Director of Federal Affairs at the Council of Canadian Innovators, issued the following statement.

“It’s good to see Canada getting better at making projects investable, but it also needs to make Canadian companies investable.

The government needs to get more serious about making it easier and more rewarding for global capital to invest in Canadian scale-ups. We need more Canadian and international capital backing the homegrown companies capable of becoming global leaders.

A Canadian version of the U.S. Qualified Small Business Stock (QSBS) exemption would help do that by rewarding long-term investment in high-growth Canadian companies.”

Media Contact

Lisa Brody Hoffman
Director of Communications
‍lhoffman@canadianinnovators.org

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