A Federal Tax Break Of 30%?

I’m not sure if you are aware of this (you probably are) but I thought I’d forward it to you just in case. Mike Krsticevic, a former VIP Member and now at www.landers.com.au sent me this link you might want your accountant to look into…

The Federal Government is offering an extra 30% bonus deduction for business purchases of “eligible assets”. This means that if you buy an “eligible asset” between December 2008 and 30 June 2009 and it is fitted/installed before 30 June 2010, you will get a bonus tax deduction of 30% of the eligible asset’s value ON TOP OF your usual tax depreciation.

Note, it DOESN’T apply to capital works covered by Division 43 of the ITAA Act 1997 are EXCLUDED from the bonus scheme.

Just something that might be of value… You never know – a penny saved is a penny earned!

1 Response to “A Federal Tax Break Of 30%?”

  • Hi Marc,
    I was aware of this and purchased a data projector last month. I let my accountant know and she replied to me to say that it has been announced by the Government, however has not been made law and still needs to pass the Senate,
    Fingers Crossed,
    Eat well. Eat safe!

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