What are the eligible asset types?

What types of asset purchases qualify for the Temporary Investment Allowance tax break?

New, tangible, depreciating business assets and new expenditure on existing assets are elibigle for the Temporary Investment Allowance tax breaks, including most:

  • Cars
  • Trucks
  • Machinery
  • Equipment

Intangible assets such as computer software and intellectual property rights do not qualify for the tax break.

Bear in mind that there are also minimum spend requirements for an asset to be eligible. Additionally, there are some limitations and exclusions: for example, deductions on luxury cars will be capped at the Luxury Car Limit.

Please note: The Temporary Investment Allowance is no longer available for asset purchases made after 31 December 2009. This information is provided for reference purposes only.