Deadline For Investment Tax

Posted on Aug 18, 2011 | 0 comments

Under last year’s tax break deadline, businesses have until 31 December 2010 to take advantage of the additional tax deductions for eligible depreciating assets. Have you assured that you are taking the measures to meet this deadline?

Small businesses (those with an annual turnover of less than $2million) can claim a 50 percent tax deduction on the cost of eligible assets that have been purchased between 13 December 2008 and 31 December 2009, and first used or installed by 31 December 2010.

In order to be able to take advantage of this tax deduction businesses need to ensure that effective installation has occurred. If you are uncertain in relation to this matter please contact our office without delay.

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