Business Finds

Recently the Australian Government announced an extension and an expansion of the small business Investment Allowance. What this basically is a extra one off tax deduction on new equipment purchased before 31st December 2009, and installed and operational before 31st December 2010. So as not to confuse you to much it may be better to direct you to some more information directly rather then try to share it in my own words.

The first place to get some of the basics is the Treasurer’s website in their Press Release – Investment Allowance to boost Business Investment.

Additionally you can find further information on the Australia Taxation Website – Investment Allowance: small Business and General Business Tax Break.

Personally to me this looks like it could be a good thing for businesses, however it will depend very much so on the Tax situation of your business, and how it is structured. So as with anything related to tax matters it is always essential to seek further information from a qualified tax accountant, based on your own circumstances.

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