Investment Allowance increases to 50%

Posted on May 13, 2009

Alliance Equipment Finance discuss the announcement of the Federal Governments update to the Small Business Tax Break. Eligible small businesses can now benefit from a 50% investment allowance on all eligible equipment.

 

The federal government announced in early February a special 30% investment tax break to help stimulate investment in capital equipment.

 

This 30% tax break has now been increased to 50% for small businesses with turnover less than $2m

 

Businesses are encouraged to bring their capital expenditure plans forward to take advantage of this tax break.

 

Under the new legislation, a small business can claim an extra 50% tax deduction for new assets, or upgrades to existing assets for capital investment undertaken between December 13 2008 and December 31, 2009.

 

It is important for businesses to begin organising their capital equipment needs early to avoid missing out on this important tax break.

 

Small business whose turnover is less than $2,000,000 pa can claim the deduction for all assets $1,000 or more.

 

To find out more, view our Investment Allowance page, or visit our earlier article here.

 

Or visit the Treasurer's media release here.

 

Contact us now to take advantage of this great opportunity before 30th June to gain the benefit this financial year.

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