06-Mar-2009 The Government has announced in its Nation Building and Jobs Plan, a proposal to grant a 30% bonus tax depreciation deduction for small businesses, for eligible assets costing more than $1,000 and acquired before 30 June 2009 or 10% if acquired before 31 December 2009.
Other businesses would be eligible to access the same concessions for assets costing more than $10,000. The temporary bonus allowance would apply on-top of regular capital allowances for depreciable assets under Div 40 of the ITAA 1997.
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