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CME welcomes improved tax treatment for LNG investments

Published by Brad Fougere on February 20, 2015

Prime Minister Stephen Harper has announced a 30 per cent capital cost allowance rate for the LNG industry effective immediately and through 2025. Canadian Manufacturers & Exporters believes that the measure will boost investment and support job creation in a critical sector of Canada's energy and exporting economy.

"The faster tax write-off will provide companies a very competitive incentive to invest in LNG liquification facilities in Canada," said CME President & CEO Jayson Myers after the government announcement Feb 20. "We have seen the very positive impact that accelerated depreciation has had on manufacturing investments." 

CME has advocated for the extension of accelerated capital cost allowance for the manufacturing sector as an incentive for companies to adopt the processes and undertake product commercialization in the global marketplace.

"It has helped to keep Canada competitive as an investment location and it has significantly boosted investments in new advanced manufacturing technologies, has helped businesses grow and it has helped create jobs in a wide range of sectors that benefit from anchor investments," Myers said.

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