Investment_Allowance

Investment Allowance

Small and General Business Tax Break - up to 50% bonus tax deduction!

The budget announced on 12th of May increased the already attractive tax deductions for capital purchases. The stimulus package released in February 2009 had set a tax deduction amount of 30% for all assets ordered prior to 30 June 2009 and installed by 30 June 2010.

This amount was increased to 50% and extended by 6 months for any business with a turnover of less than $2 million.

	Basic Facts...
	Small businesses	Other Businesses
	(Turnover less than $2 million)	(Turnover more than $2 million)
	50% Investment Allowance	30% Investment Allowance
	Must have ordered cabins before 31 December 2009	Must have ordered cabins before 30 June 2009
	Must install cabins before 31 December 2010	Must install cabins before 30 June 2010
		or
		10% Investment Allowance
		Must have ordered cabins before 31 December 2009
		Must install cabins before 31 December 2010

For more information on the Small and General Business Tax Break go to -

»Treasurer's Media Release (12/05/2009) - Small Business Tax Break Boost

»Treasurer's Media Release (03/02/2009) - Small and General Business Tax Break

»Frequently Asked Questions - Details from the Treasury Office

»Tax Ruling - TD97/24 What type of accommodation units can be depreciated under section 42-15

Disclaimer: All details provided by Timberline Cabins is done so by way of general information only and does not constitute financial or accounting advice. Independent professional advice should be obtained from your accountant or financial institution before acting any any information given by Timberline Cabins.