FAQ: What is the Federal Government Temporary Investment Allowance tax break?
What is the Federal Government Temporary Investment Allowance tax break?
The Federal Government's Temporary Investment Allowance for
general business and small business - also known as the Small
Business and General Business Tax Break - is a temporary additional
tax deduction available to businesses when they purchase eligible
new assets, or invest new funds in existing assets.
There are three levels of additional tax deductions
available, depending on whether the business is a small or general
business, when the assets are acquired, and when they are installed
ready for use.
Please note: The Temporary Investment Allowance
is no longer available for asset purchases made
after 31 December 2009. This information is provided for reference
Please note that this information is of a general nature only. You should consult an accountant to obtain information specific to your situation.
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How much is the additional tax deduction available under the Temporary Investment Allowance?
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