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Tax Changes
10 June 2009
A couple of recent changes from the 2009 Government stimulus package may be of interest to Members.
1. Small businesses are able to claim a bonus 50 percent tax deduction on expenses such as cars and computers. For example, if you buy a computer for $5000 you can claim $2500 off your taxable income for this year. Normally this would be depreciated at 15% per year. ( This is for businesses expenses of more than $1000 for businesses with turnover less than $2 million)
2.Businesses with turnover below $50 000 receive 25% off their tax bill under the Entrepreneurs tax offset.
Check Article 21 on the AWCF website for further details