Government Announcements
Investment allowance: draft legislation
25.02.2009
On 25 February 2009, the Treasurer announced the release for public comment of draft legislation and explanatory materials for the temporary 30% (reducing to 10%) investment allowance available to small businesses for eligible capital investments of $1,000 or over, and for other businesses for eligible capital investments of $10,000 or more.
Also released were a series of frequently asked questions to assist businesses in understanding how they can benefit from the investment allowance.
The Treasury is seeking submissions from interested parties on the exposure draft legislation and explanatory material by close of business on 10 March 2009.
For the text of the Treasurer’s media release, click here. The media release has a link to the materials that have been released.
