| Dear Valued Client, |
| Our accountant recently passed on the following valuable information to us, before acting on this yourself please check with your accountant that you qualify. |
| The Rudd Government has recently proposed a number of cash bonuses to individuals and tax incentives to businesses to improve economic activity and support Australian jobs. |
| The tax incentives to businesses are to promote investment in working business assets. |
| In Summary: |
| Type Of Business |
Time Frame |
TAX Deduction |
Small Business
Turnover of $2 million a year or less
Eligible Assets $1,000 or more |
Purchased 13/12/08 - 30/6/09
Installed by 30/6/10 |
Additional 30% tax deduction |
Purchased 1/7/09 - 31/12/09
Installed by 31/12/10 |
Additional 10% tax deduction |
General Business
Turnover greater than $2 million a year
Eligible Assets $10,000 or more |
Purchased 13/12/08 - 30/6/09
Installed by 30/6/10 |
Additional 30% tax deduction |
Purchased 1/7/09 - 31/12/09
Installed by 31/12/10 |
Additional 10% tax deduction |
|
- Eligible assets include all tangible depreciating assets and new expenditure on existing assets used in carrying on your business such as plant and equipment.
- The deduction is on top of the calculated depreciation claim available in relation to the asset purchased.
- The deduction is claimable in the Income Tax Return of the year in which the asset is installed ready for use.
|
| This should include all of your new camera equipment. |
 |
