In what can be described as another major boost, the Australian Federal Government's Budget has seen an increase in the temporary tax assistance to qualified businesses in Australia from 30% to 50%.
The 50% tax deduction will be available on eligible assets acquired between 13th December, 2008 and 31st December, 2009, and installed and ready for use by 31st December, 2010.
The expanded Tax Break is available to small businesses with a turnover of less than $2 million. The business need only invest as little as $1,000 in order to qualify.
All other businesses can continue to access the Tax Break at 10 per cent for eligible assets that they commit to investing in between 1st July, 2009 and 31st December, 2009.
For further information on how WesTrac can assist you in taking advantage of the Federal Government's tax assistance:
CLICK HERE!