IT'S A TWO-FER. NEW TAX DEDUCTIONS IN THE FEDERAL BUDGET 2024 CAN HELP CANADIAN BUSINESSES DRIVE INNOVATION…

Donated used tech can deliver social impact and charitable tax receipts through Computers for Success Canada

MONTREAL, July 16, 2024 /CNW/ - It's a "two-fer" for large, small and medium-sized businesses who access new tax credits announced in Budget 2024 to invest in new computers and then donate their used technology to the Computers For Schools Plus (CFS+) Affiliate Network for a charitable tax receipt*.  

With the new federal tax write-off incentives for new technology purchases for data network infrastructure equipment and general-purpose electronic data processing equipment, businesses can seize a dual opportunity to drive growth and make a tangible difference in society by investing in new computers and technology upgrades to empower their workforce. This bolsters existing accelerated deductions for companies that acquire new equipment, their older equipment can be donated to be refurbished and redistributed by CFS+ Affiliates to Canadians who lack access, all while receiving a significant tax benefit and contributing to corporate ESG objectives. 

"This is two-for-one good news as companies of all sizes take advantage of this new federal tax write-offs in Budget 2024. CFSC encourages those companies to partner with us to donate, upcycle and repurpose their used equipment to enable economically challenged Canadians to participate, learn and be connected to their classrooms and their families", says Michel Langelier, Executive Director of CFSC. "Access to computers and technology is critical for business, but it is also critical for students, families and seniors with affordability challenges to also have access to technology and skills – this is where Computers for Success Canada helps to close the gap".

This is a win-win-win scenario for Canadians:

• Tax incentives for businesses to acquire new equipment to deliver growth and drive innovation,
• Donated equipment is donated for refurbishment to charity – enabling Canadians facing barriers to access essential skills, services, and opportunities to participate in the digital economy.
• ESG credit for companies and a reduction of e-waste as equipment that would otherwise be headed to landfills is diverted and reused.

"Computers for Success Canada is working with businesses and CEOs across the country to ensure that our workforce of tomorrow has access to computers and technology in schools, libraries, after-school programs and at home – in urban centres, small towns and Indigenous communities", adds Langelier. "Together, organizations like CFSC and businesses can help to bridge the digital divide and at the same time improve digital participation and Canadian competitiveness – it just makes sense".

Donating used computer equipment is a proven scenario: since 1993, CFSC has coordinated the Computers for Schools Plus (CFS+) federal government program and has delivered, at little or no cost, more than 2.2 million computers across Canada and saved +12,000 T of e-waste. Corporate donors provide a third of the technology for the program. Its CEO Pledge national campaign, launched in 2021, has already recruited a network of 52 active donors. All businesses large and small, seeking to shape a future where innovation, collaboration, and social impact intersect to create a brighter tomorrow for all.

Visit www.ceopledge.ca to learn how to join the CEO Pledge and help today's youth change the world of tomorrow.

ABOUT CFSC-OPEC - Computers for Success – Canada Inc. | Ordinateurs pour l'excellence – Canada Inc. (CFSC-OPEC) is a non-profit organization established in 2005, supporting the impacts of the Canadian government's digital inclusion and economic development programs. CFSC-OPEC's mission is based on three pillars: reducing e-waste footprint, enabling a digital workforce, and fostering social inclusion.

*Please note: The tax reductions mentioned are subject to conditions and may vary depending on provinces and individual circumstances.

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SOURCE Computers for Success Canada

For media inquiries, please contact: Grace Ngingi, Communications Manager, Computers for Success Canada, T: 514-705-1297, [email protected]; For CEO Pledge inquiries, please contact: Michel Langelier, Executive Director, Computers for Success Canada, T: 514.712.2727, [email protected]