Designated immediate expensing property (DIEP) refers to a property category eligible for accelerated tax depreciation. This means that business owners can claim the full cost of the property as a deduction in the year it was purchased, rather than spreading the deduction over the useful life of the property.
DIEP includes certain types of depreciable property used primarily for manufacturing or processing goods for sale or lease, including machinery, equipment, and buildings.
For more information please see Canada Revenue Agency(CRA) Expansion of the Eligibility for Tax Support for Business Investments
For more information please see our TurboTax FAQ. Accelerated Investment Incentive
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