Investment Allowance
The government has allowed small businesses (that is: turnover less than $2 million) to claim a bonus tax deduction of 50 per cent – up from 30 per cent previously- of the cost of eligible assets acquired between 13 December 2008 and 31 December 2009, and installed by 31 December 2010.
All other business (that is: turnover greater than $2 million) can continue to access the Tax break at 30 percent for eligible assets contracted for prior to 30 June 2009 and 10 per cent for eligible assets that they commit to investing in between 1 July 2009 and 31 December 2009.
For more information, contact your Dillon Partners adviser.