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30% Tax Break? Yes Please! |
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Whether or not you think the 42 Billion dollar economic stimulus package approved this week is a good idea or not, there are some real benefits for small business to take advantage of before the end of June this year. Did you know that you can claim a 30% deduction in your 2008-2009 tax return for the cost of any eligible asset over $1000 purchased between 13th December 2008 and June 30th 2009? This is in addition to the normal depreciation you can continue to claim. You can read the detail on the Treasurers website here . An example from the treasurer:
A small business that buys and installs a $2,000 computer before the end of June 2009 can claim an additional $600 deduction in its 2008-09 tax return.
So if you have any upgrades in the pipeline, or suspect you may need to purchase or replace computer systems, now is the time to do it. Talk to us about what we can do for your business.
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