50% Tax Deduction for Small Business for spending on Captial assets

30 May 2009

For those on Bucky that run a Small Business, I wanted to make sure you did not miss out on the latest Tax offer.
According to the press release, the deduction has jumped from 30% to 50% for all capital asset purchases over $1000 from 13th December 2008 and the end of this year. They are trying to off set the massive drop in business investment and I think this is a pretty good way to encourage small business to get out there and spend.

I have linked to a few news articles in the comments

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3 comments

  • nod
  • pharmlover
    Australian Tax Office ]General Information on the Investment Allowance: small business and general business tax break ]Overview This document provides overview information including eligibility requirements on the Small business and general business tax break. ]Detailed Information This guide provides more detailed information, including examples relating to eligibility, on the small business and general business tax break. ]Legislation which received Royal Assent on 22 May 2009 and ]explanatory memorandum.
  • nod
    Just a reminder about this tax break for all Bucky business owners. There are some decent Dell discount codes around and we also have the 4% Apple cashback to get your teeth into

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