PJT Accountants

Now is the best time to upgrade your company vehicle or purchase another one

15 December 09

PJT Accountants & Business Advisors

Do you want to upgrade your company vehicle or purchase an additional one? Well there is no better time to do so than now!

As the year comes close to an end so does the small business 50% investment tax break boost.

Thursday, 31 December 2009 is the final day of the increased 50% tax break boost. This is your last opportunity for the year to drive away in the company car of your dreams.

The allowance is available for all small businesses who meet the following conditions:

  • Must have a turnover of less than $2 million a year
  • Applies to eligible new depreciating assets such as vehicles acquired under a contract or started to be constructed before Thursday, 31 December 2009 and delivered and ready for use by Friday, 31 December 2010
  • Vehicle/asset must be brand new and cost more than $1000 GST exclusive

    For others that are not small businesses (turnover of $2 million or more), a minimum expenditure threshold of $10,000 GST exclusive applies; the rate of the allowance is 10% if executed by Thursday, 31 December 2009.

    Contact me today for more information or to see if you qualify, be quick to take advantage of this great benefit before time runs out!

    Kind Regards

    Jason Fong
    Finance Manager
    Australian Finance Professionals

    e: jason@ausfinanceprof.com.au | p: 07 5413 9300 | f: 07 5437 6844 | m: 0427 444 633

     

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