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.
Immediate expensing property (IEP) is property acquired by an eligible person or partnership (EPOP) and includes all property subject to the capital cost allowance (CCA) rules, but excludes property included in the following CCA classes (generally long-lived asset classes):
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
Thank you for choosing TurboTax.
davesuzuki
New Member
ananayamathur
New Member
knappkarley-gmai
New Member
deepa-ps31-gmail
New Member
Casandrita
New Member
You have clicked a link to a site outside of the TurboTax Community. By clicking "Continue", you will leave the Community and be taken to that site instead.