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Draft Tax Laws Amendment (Small Business and General Business Tax Break) Bill 2009

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.

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TAXATION INSTITUTE OF AUSTRALIA

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