30% Government investment tax break incentives for small business stops June 30th 2009

We are all experiencing the current conditions and there have been multiple stimulus packages provided to date to help keep Australia moving away as apposed to towards a recession. Even Harvey Norman is in on the act advertising his stimulus package for customers.

The Government has not confirmed full details but they have provided sufficient information to allow you to plan to take advantage of the government stimulus package.

Under the proposed tax break a business can claim an extra 30% tax deduction for new assets, or upgrades to existing assets for capital investment undertaken between December 13, 2008 and June 30, 2009 and install prior to 30 June 2010. For assets purchased between July 1, 2009 and December 31, 2009 a reduced incentive of 10% still applies.

To take the biggest advantage you need to purchase prior to 30th June 2009, you need to turn over less than 2 million dollars and purchase equipment valued at more than $1000. Large business can claim the allownace on purchase of assets over $10,000

Some Examples

A small business with turnover of $1,800,000 pa requires a new time clock for their warehouse staff totaling $2,000. Under the proposed tax break they can claim an additional $600 in deduction for their 2008-09 tax return.

A larger business with turnover greater than $5,000,000 requires a new time and attendance package valued at $30,000. Taking into account the proposed tax break on offer they can claim an additional $9,000 in deduction for their 2008-09 tax return.

By taking advantage of these government offers you are gaining the following

• Being a part of the countries recovery and stimulation
  
• getting products at discounted prices
• increasing your companies productivity
  
• getting ahead of your competitors that don't take advantage of this offer.

• Acquired or ordered between 13th December 2008 and 30th June 2009
• Installed & ready for use by 30th June 2010
• For assets purchased between July 1, 2009 and December 31, 2009 a reduced incentive of 10% still applies.

Call now on 1300 664 254 and ask us how we can assist you!