Moree         Ph: 0267 591000
Bingara      Ph: 0267 241677
Warialda    Ph: 0267 291216
reception@candw.com.au



 

 

 

BUSINESS TAX BREAK

Just a reminder that the Business Tax Break (or investment allowance) is still in existence and will cease 31 December, 2009.

For businesses with a turnover of less than $2M a 50% tax break is available for purchases made between 1st July 2009 and 31st December 2009 which are installed before 31st December 2010.

For businesses with a turnover of more than $2M, a 10% tax break is available for purchases made between 1st July 2009 and 31st December 2009 which are installed before 31st December 2010.

Please also note the following items are ineligible for the tax break:

  • Second hand goods
  • Cars where the cents per kilometre method is used to claim a deduction
  • Land
  • Capital works including most buildings 
  • Water facilities such as dams, bores and wells.
  • Trading stock or
  • Intangibles such as software or intellectual property rights.

As always, should you have any queries, please contact your C & W Advisor.