Business Services Industry

With deductions, a day could count.

Australasian Business Intelligence, June, 2009

Byline: Greg Hayes

Jun 22, 2009 (The Australian Financial Review - ABIX via COMTEX) -- The timing of asset purchases is important, as it can affect the time at which an investment allowance can be claimed. For businesses achieving turnover of less than $A2m annually, the 50% investment allowance rate applies for purchases that are committed to prior to 31 December 2008. A claim may be made in the 2009 tax return provided the asset is ready for use by 30 June, but if the asset is not ready for use by 30 June, the claim must be made in 2009-10.

Publication Date: 23 June 2009

 
HAYES KNIGHT LIMITED 

Copyright 2009 LexisNexis Australia. All Rights Reserved.

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