- On the 13th December, the Federal Treasurer announced the introduction of the Investment Allowance to stimulate investment in new business equipment.
With the announcement being made close to Christmas, it has become apparent that many businesses are not yet aware of this initiative.
The Investment Allowance allows a business to claim a 10% tax deduction for any new equipment purchased over $10,000- (exc GST) between 13/12/08 and 30/6/09. (Also includes equipment ordered during this period and delivered before 30/6/10)
You may want to consider updating equipment rather than repairing existing equipment that is out of warranty.
Now may be a good time as businesses start to look at their tax plans.
Below is a link to the treasurers announcement.
Please do not hesitate to contact us if you would like to discuss this further.
http://www.treasurer.gov.au/DisplayDocs.aspx?doc=pressreleases/2008/141.htm&pageID=003&min=wms&Year=&DocType=
