Where to park money in Canada in interest bearing account?

[Happytrails]

Buy iron.
It goes up 10% or more every yr..
With no end in site..

Filed company taxes yesterday. The accountant informed me that machinery purchases are a 100% tax write off at the moment. I hadn't heard. Was a big deal in the old days.

[Old Cowzilla]

In the 80's steel dropped faster in value than we could make payments on it. But don't worry guys that could never never happen again . P.S. STILL got a couple of pieces of steel parked in the bush to remind me of those times

[seldomseen]

At one time you could park money at Cargill.
They had a deposit account that would pay about 1.5% above what the local banks would pay in a term deposit. Could get your money back anytime you wanted with no fees or penalties. It would take a day or two to get your money.
I kind of lost track of that account when our local Cargill closed up and I am not sure if they still do it. It used to be nice when you went in their office and there on the white board they would show the rate of the deposit account.

[sumdumguy]

Best build-a new shop. Name it No Fiat For Me. 😹

[jdg364]

Filed company taxes yesterday. The accountant informed me that machinery purchases are a 100% tax write off at the moment. I hadn't heard. Was a big deal in the old days.

That’s not quite right, I believe the following is correct but check with your accountant again.. Businesses are able to depreciate the total purchase price of equipment (not bins or buildings) of up to 1.5 million. This program is for the 2022-2024 years and doesn’t reset every year. The catch is that it burns up your depreciation in the years further out.

So it’s a good deal if you’re in a tax crunch today but it’s really just kicking the tax problem down the road a couple years.

[fjlip]

1.5 MILLION, geez only one combine and we max out!

Note...everything with Taxes/CRA is Tax Deferral. Only Alt Min tax is prepay and claim back.

DIE or QUIT and then we or survivors weep.

In the 80's, Business Tax Credits were a straight 10% off tax payable, calculated on GROSS cost of NEW iron, buildings.

[Guest]

In the 80's steel dropped faster in value than we could make payments on it. But don't worry guys that could never never happen again . P.S. STILL got a couple of pieces of steel parked in the bush to remind me of those times

yep , land did too
the def scam is helping resale on the old shit tho

[Partners]

Very little New steel on the lots now is the difference.
Covid killed any excess building of anything.
Nobody is excited to ramp up production to catch up..
Way different than the 80's..
Need a part for the AGI auger.
No parts..we only build complete augers??????WTF....

[Guest]

The Farmer that traded X9s for caseihs must of been on drugs !

Where's the deal on augers I haven't found any ?

Over last July
Missed it

[Happytrails]

[QUOTE So it’s a good deal if you’re in a tax crunch today but it’s really just kicking the tax problem down the road a couple years.[/QUOTE]

The rules are that you don't get to win. And I can live with the $1.5M cap.