Here’s a tip with a bit of a difference…..
You may not be aware that the Federal Government announced an incentive for business investment just prior to Christmas. …..
The allowance will be in the form of an additional tax deduction equal to 10 per cent of the cost of an eligible asset. The allowance will be applicable to most new tangible depreciating assets – which includes most items of plant and equipment – over $10,000 which are acquired or ordered by the end of the current financial year.
The investment allowance will apply from 12.01 am AEDT 13 December 2008 until the end of June 2009. To be eligible for the investment allowance, a taxpayer must start to hold the asset under a contract entered into beween those times, or start to construct the asset between those times. Assets must also be installed ready for use by the end of 30 June 2010.
The investment allowance will be confined to new assets and new expenditure on existing assets, used in Australia. Assets that have previously been used or held for use will be excluded.
For further information go to: http://www.treasurer.gov.au/displaydocs.aspx?doc=pressreleases/2008/141.htm&pageID=003&min=wms&Year=&DocType=0
Building Systems Into your business
