This TurboTax article has information about Accelerated Investment Incentive (AIIP): https://turbotax.intuit.ca/tips/accelerated-investment-incentive-11289
As of tax year 2022, in addition to certain small corporations, an eligible individual or partnership can now expense 100% of the cost of immediate expensing property. This is called Designated Immediate Expensing Property (DIEP).
Immediate Expensing Property:
An individual’s (or a partnership made up of individuals) immediate expensing property is the acquisition cost of property in any non-excluded* CCA class (1 to 6, 14.1, 17, 47, 49, and 51):
- Acquired in unused condition after 2021
- Available for use before 2025
- Up to an annual cost limit of $1.5 million annually (that must be shared between associated persons)
NOTE: Upon disposal of a CCA class 10.1 vehicle that was immediately expensed, the CCA recapture rule applies, unlike the treatment of regular Class 10.1 vehicles.
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