TaxCorporate TaxTax breaks for Australian small businesses

Tax breaks for Australian small businesses

Government releases "nation building" stimulus package

The Australian government is offering small businesses a tax break on new
business investment in an effort to boost economic activity and jobs.

The $AUD2.7bn (£1.2bn) tax break is part of the government’s $42bn stimulus
package which it claims will support up to 90,000 jobs.

Businesses with annual turnover under $2 million that buy $2,000 worth of
computer equipment before the end of June 2009 can claim a $600 deduction in
their 2008-09 tax return.

Resources firms that splash out on mechanical diggers worth $60,000 get a
deduction of $18,000 in their next tax return.

A 30 per cent tax deduction is available on eligible assets costing $1,000 or
more if acquired between December 13, 2008 and June 30, 2009.

Related Articles

Big names, little tax: Airbnb, Facebook, Kellogg’s, eBay

Corporate Tax Big names, little tax: Airbnb, Facebook, Kellogg’s, eBay

2m Alia Shoaib, Reporter
New trading allowance: simplicity, but not as we know it

Administration New trading allowance: simplicity, but not as we know it

2m Emma Rawson, ATT Technical Officer
EU divided over radical tax reforms targeting tech giants

Corporate Tax EU divided over radical tax reforms targeting tech giants

2m Alia Shoaib, Reporter
‘Improve rather than lose’ disincorporation relief, tax body urges

Administration ‘Improve rather than lose’ disincorporation relief, tax body urges

2m Austin Clark, Reporter
How to educate your clients about tax avoidance

Corporate Tax How to educate your clients about tax avoidance

2m Clear Books | Sponsored
CGT clampdown nets HMRC £124m – but could lead to increase in use of avoidance schemes

Corporate Tax CGT clampdown nets HMRC £124m – but could lead to increase in use of avoidance schemes

3m Austin Clark, Reporter
‘Google tax’ nets HMRC £281m

Corporate Tax ‘Google tax’ nets HMRC £281m

3m Emma Smith, Managing Editor
Should I incorporate my buy-to-let business?

Corporate Tax Should I incorporate my buy-to-let business?

4m Emma Rawson