Investment Allowance increases to 50% for small and general businesses.

The recently passed Tax Break Bill provides for additional assistance for small businesses. Eligible businesses can access a one-off bonus tax deduction equal to 50% of the capital cost of eligible new assets, such as new or demonstrator motor vehicles, used primarily for business purposes.

• Small businesses, for the purpose of this Tax Break, are businesses with annual revenue of less than two million dollars.
  
• Both new and demonstrator vehicles are considered eligible assets
• Businesses must purchase the eligible asset by 31 December 2009 and install it ready for use by 31 December 2010.
  

The Investment Allowance for large businesses remains at 30%, on assets purchased by 30 June 2009.

For further advice, and to check your eligibility, talk to your financial advisor.

Sales Manager, James Simpson at Porsche Centre Brisbane on (07) 3248 9411 or jsimpson@porschecentrebrisbane.com.au