Budget 2009: Small business tax break boosted from 30% to 50%

The small business tax break was introduced earlier this year as part of the Rudd Government’s stimulus measures, and has been applauded by business groups as a way of assisting growing businesses through the downturn and stimulating economic growth by pulling forward investment.

Under the original model, the tax break was set at 30% for assets over $1000 that were purchased between 13 December 2008 and 31 December 2009 and installed by 31 December.

But under the new 50% tax break, the business will be able to claim a tax deduction of $15,000 (that is, 50% of $30,000).

Click on the below attachment to read more.

Budget 2009: Small business tax break boosted

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