The Federal Government is offering Small Businesses a temporary tax break to encourage businesses to invest in capital equipment and vehicles. 

Small businesses can claim an additional 30 per cent tax deduction for eligible assets costing $1,000 or more acquired after 13 December 2008 and before 30 June 2009, provided the assets are installed or in use by 30 June 2010.

For eligible assets costing $1,000 or more acquired between 1 July 2009 and 31 December 2009, a 10 per cent deduction can be claimed where these assets are installed or in use by 31 December 2010.

To benefit from this tax break a small business must have a turnover of $2 million a year or less.

Businesses with a turnover in excess of $2 million are entitled to receive the same deductions for eligible assets greater than $10,000.

Please note that other conditions apply.
For further details see www.treasurer.gov.au under “Media Releases”.

Contact BCU on 1300 228 228 to see if we can help you finance the cost of new equipment through our business financing options.

The information on this page does not take into account your individual specific circumstances or requirements. You should obtain independent financial advice from your accountant or relevant professional before acting on this information.