On the 3rd of February, 2009 the Government announced an additional business tax break as part of the economic stimulus package. Following the issue of the Exposure Draft of the Tax Laws Amendment (Small Business and General Business Tax Break) Bill 2009 i am now in a position to provide a detailed explanation of the proposal which may be of interest to your business operations.
Small businesses will be able to claim a bonus deduction of 30 per cent for eligible assets costing $1,000 or more that they:
• acquire or start to hold under a contract entered into between 13 December 2008 and 30 June 2009, or start to construct between these times; and
• have installed ready for use by 30 June 2010.
Small businesses will be able to claim a bonus deduction of 10 per cent for eligible assets costing $1,000 or more that they:
• acquire or start to hold under a contract entered into between 1 July 2009 and 31 December 2009, or start to construct between these times; and
• have installed ready for use by 31 December 2010.
For all other non-small businesses the same rules apply with an increase in the minimum expenditure threshold to $10,000.
What is an eligible asset?
According to the draft bill, the tax break is available for new investment in tangible depreciating assets for which a deduction would be available under subdivision 40-B ITAA97 (notwithstanding that the subdivision may not actually be applied by the taxpayer). Several types of asset which would otherwise be excluded from the concession will now be included:
• cars in respect of which the taxpayer uses the '12 per cent of original value' method to work out their car expense deductions;
• assets for which a small business entity would usually claim deductions under the subdivision 328-D capital allowance provisions; and
• tangible, depreciating assets in respect of which deductions are available under the research &development provisions of the tax laws.
However, land, trading stock, intangible assets such as intellectual property rights, horticultural plants, capital works to which Division 43 apply and cars in respect of which the taxpayer uses the "cents per kilometer" method are not eligible for the Tax Break.
评论
就是说小企业如果今年买固定资产的话，可以多抵扣30%，明年买，多抵扣10%，对吗？这个30%是当年折旧额的30%还是固定资产全额的呢？
评论
its 30% of the value of the eligible assets you buy.
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