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29 Nov 10 Business tax break – first use and installation deadline approaching

The ATO has reminded agents with small business clients (annual turnover less than $2 million) who, on or before 31 December 2009, committed to investing in an eligible asset to claim the 50% business tax break deduction, have until 31 December 2010 to first use or install the asset ready for use in their business.

The 31 December 2010 first use or installation deadline also applies to other businesses (turnover $2 million or more) that want to claim the 10% business tax break deduction.

For information about the small business and general business tax break, go here

 


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