The Globe and Mail reports in its Wednesday, Sept. 16, edition that Mark Carney announced a permanent tax deduction that enables companies to immediately write off the full cost of acquiring or building new business assets, aiming to boost productivity and attract global investors. The Globe's Erica Alini writes that in Canada, companies have been able to gradually deduct the cost of specific new investments from their income. They can now deduct the full expense in the year the investments are available, covering eligible costs like new equipment, infrastructure and software. The "productivity mega deduction" by the Carney government is more ambitious than recent business investment tax incentives from Ottawa. Canadian Association of Petroleum Producers chief executive officer Lisa Baiton said the deduction, combined with recent amendments to the Impact Assessment Act, represents a "major step forward" for the oil and gas sector. With the measure, about 65 per cent of new capital investments -- including fibre-optic cables, software, research and development, as well as roads and bridges -- would become eligible for a full and immediate writeoff, up from the current 15 per cent, according to government estimates.