The Small Business and General Business Tax Break will be expanded to allow a bonus deduction of 50% to small businesses with a turnover of less than $2 million that acquire an eligible asset between 13 December 2008 and 31 December 2009 and install it ready for use by 31 December 2009.
The previously announced investment allowance of 30% and 10% will continue to apply to all other business - ie. the 50% bonus deduction is not in addition to the 30% investment allowance.
Read our previous post on ==> 30% investment allowance
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1 Response to "50% Investment Allowance - 2009 Budget"I am very excited by the announcement of the investment allowance. I believe one of the most exciting elements is the proposed additional deduction not reducing the written down value of the asset.
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