Published on 10 Mar 09
by THE TAX INSTITUTE
The Taxation Institute supports the general thrust of the draft Bill in providing eligible small businesses with:
- an additional 30 per cent tax deduction for eligible assets costing $1,000 or more that they acquire from 13 December 2008 to 30 June 2009, and install by 30 June 2010; and
- an additional 10 per cent deduction for eligible assets costing $1,000 or more that they acquire from 1 July 2009 to 31 December 2009, where they are installed by 31 December 2010.
TAXATION INSTITUTE OF AUSTRALIA