Investment Tax Break 2009 e-Paper
Member Price: $70.00
Non Member Price: $85.00
Publication date: 02 Dec 2009
Source: TAXATION INSTITUTE OF AUSTRALIA
Abstract:
Your guide to the Investment Tax Break rules
Revised to December 2009
The Tax Laws Amendment (Small Business and General Business Tax Break) Act 2009 provides for an extra deduction where eligible expenditure is incurred on tangible depreciating assets.
Written by John Gaal of TaxCounsel and exclusive to the Taxation Institute of Australia, the current version of the Investment Tax Break 2009 e-Paper fully reflects the law and provides essential technical and practical assistance.
It also covers the main developments that have occurred since the publication of the first version of the paper, namely the issue by the Commissioner of interpretative decisions on the following topics:
- the meaning of a 'set' of assets;
- the meaning of 'substantially identical' assets;
- the reasonable to conclude test;
- what amounts to reasonable testing and trialling;
- the investment commitment time where an asset is acquired on hire purchase; and
- what expenditure may qualify as being incurred 'in respect of' construction.
The 48-page paper provides vital information such as: a snapshot of the concession; planning tips and a checklist of issues; discussion of all eligibility conditions (timing, assets and expenditure etc); implications of multiple investments in the one asset; discussion of the small business entity concept; and how the sets of assets and identical assets rules operate.
The final cut-off for the investment commitment time is 31 December 2009.
Available exclusively through Taxation Institute of Australia website
Author profile:
TAXCOUNSEL
TaxCounsel is a niche tax publisher which provides comprehensive and practical guidance to practitioners on important matters affecting their clients.
The company was formed by John Gaal, who for over 30 years, has written extensively on a wide range of taxation matters for a number of publishers including the Taxation Institute of Australia.
Current at June 2009
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