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During his budget speech On 12 May 2009, the Treasurer Wayne Swan announced an increase in, and an extension to the proposed 30% Investment Tax Break.

If you are a small business with an annual revenue less than $2 Million, you can now take advantage of an additional 50% tax deduction for purchases of eligible assets made between 13 December 2008 and 31 December 2009, that are installed and ready to use by 31 December 2010.

This is a significant increase and extension to what was originally announced in February 2009. That original announcement (the 30 percent investment tax break) still applies to businesses with revenue greater than $2 Million / year

More information about the new 50% Investment Tax Break for Australia’s Small Businesses will be published here during the coming months – but to stay up to date with all the latest news and promotions around the tax break, make sure you subscribe to our newsletter below. And remember, as this information is general in nature, make sure you talk to your accountant before making any decisions.

– The team at 50percent.com.au and 30percent.com.au