Tax Concessions for Businesses

The Government has announced changes to the temporary investment allowance, which was announced in December 2008.

Broadly, the amendments will:

increase the rate to 30% (from 10%) for eligible assets acquired between 13 December 2008 and 30 June 2009, and install ready for use by June 2010;
extend the allowance to assets acquired between 1 July 2009 and 31 December 2009, and installed by 31 December 2010, but at a rate of 10%; and
decrease the cost of the eligible assets threshold for small businesses to $1,000.

General businesses will also be eligible for the allowance, provided the cost of eligible assets is more than $10,000.

Back to main

Please contact our nearest office if you would like more information on this topic.

Bentleys Chartered Accountants and Business Advisors has offices in:

Australian capital cities Sydney, Melbourne, Brisbane, Adelaide, Perth, Canberra

Regional and suburban Dubbo, Gosford, Ipswich, Maroochydore, Newcastle, Tamworth

This publication is provided to you by Bentleys Australia Pty Ltd (Bentleys) on a complimentary basis. The information provided is a general guide only and Bentleys accepts no responsibility for the accuracy of the information or opinions contained herein. The contents do not constitute business, accounting, taxation or financial advice and should not be relied upon as such.

Bentleys is a national association of independent accounting firms in Australia. The member firms of the Bentleys association are affiliated only and not in partnership.
Bentleys participates in the Praxity AISBL International Alliance of accounting firms.

Liability limited by a scheme approved under Professional Standards Legislation.