Temporary tax break for business - keep your clients informed

Businesses may be entitled to a bonus 30% tax deduction as part of the Small Business and General Business Tax Break legislation currently before Parliament.

If passed, the legislation will enable small businesses to claim an additional deduction on capital assets costing $1,000 or more. Larger businesses can claim on capital assets costing $10,000 or more.

For more information about the legislation, business eligibility, tax deductions allowed and deadlines for purchasing and installing, visit Investment Allowance: small business and general business tax break.