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Investment Allowance advice from Hanrick Curran

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For advice on the investment allowance update visit the Hanrick Curran website. Hanrick Curran are pleased to report this investment allowance update as a result of the tax laws amendment, for small business and general business tax break. Bill 2009 passed both houses of parliament on 15th May 2009 and now awaits royal assent.  

The Investment allowance update provides certainty to businesses so they can commit to purchasing depreciable assets knowing that the investment allowance will be available. The original bill was updated for some minor technical amendments and to increase the rate of the investment allowance applying to small business from 30% to 50% as announced on May 12th 2009 in the Federal Budget.

The investment allowance is good news for small and medium sized businesses that have been considering the purchase of additional or replacement equipment, making the investment allowance update beneficial to the agricultural industry, the construction industry and also other industries including, infrastructure, telecommunications, residential and commercial. 

The investment allowance will enable business owners to concentrate on growth and taking their business to the next level, while upgrading equipment significantly lifts productivity and long term profitability. For this reason investment allowance has proven to be an extremely tax-effective means of lifting abd bringing forward investment spending across the Australian Economy.

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