Could be time to upgrade or get some new equipment in.
Lusting after a portable reformer or MVE chair?
New legislation for small business owners offers an additional tax deduction on purchases over $1000, for tangible assets related to the business.
Read the ATO factsheet.
“The tax break provides an additional tax deduction for assets acquired from 13 December 2008 to 30 June 2009, where the asset is also installed before 30 June 2010. Small businesses will now be able to claim a bonus tax deduction of 50 per cent – up from 30 per cent previously of the cost of eligible assets.”
Speak to your accountant, and take advantage of the opportunities as the Rudd government stimulates our economy.
Buy before 30 June 2009 to maximise the gains.