{"id":708,"date":"2009-05-26T09:42:50","date_gmt":"2009-05-25T23:42:50","guid":{"rendered":"http:\/\/wordconstructions.com.au\/blog\/?p=708"},"modified":"2009-05-27T09:57:44","modified_gmt":"2009-05-26T23:57:44","slug":"small-business-tax-break","status":"publish","type":"post","link":"https:\/\/wordconstructions.com.au\/blog\/2009\/05\/small-business-tax-break\/","title":{"rendered":"Small business tax break"},"content":{"rendered":"<p>The <a title=\"ATO investment allowance\" href=\"http:\/\/www.ato.gov.au\/taxprofessionals\/content.asp?doc=\/Content\/00175431.htm\" target=\"_blank\">50% tax deduction for small businesses <\/a>(turnover under $2 million) announced in the Federal Budget has now been given royal assent so it is law. That means, eligible purchases over $1,000 can be added to your tax return as a 50% deduction.<\/p>\n<p>Note that this is a bonus as you can still claim any depreciation and deductions you would otherwise be entitled to.<\/p>\n<p>So if a purchase was already something you had planned this year (the deadline is 31 December 2009) it&#8217;s great news; if a purchase was a possibility or planned for early next year, considering buying it now is now more affordable. However, if cashflow is a problem and\/or you don&#8217;t really need any $1,000 purchases, forget the tax break and spend your money elsewhere!<\/p>\n<p>Is this tax deduction affecting your spending?<\/p>\n<p>I am about ready to upgrade my computer so this tax break could be well timed for me &#8211; yes I could buy a computer for under $1,000 anyway but I want reliability, a large screen and various features (such as mobility, i.e. a laptop)\u00a0that will make life easier for me.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The 50% tax deduction for small businesses (turnover under $2 million) announced in the Federal Budget has now been given royal assent so it is law. That means, eligible purchases over $1,000 can be added to your tax return as a 50% deduction. Note that this is a bonus as you can still claim any [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[53],"tags":[897,86,939,347],"class_list":["post-708","post","type-post","status-publish","format-standard","hentry","category-business-info-tools","tag-break","tag-business","tag-purchase","tag-tax"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/wordconstructions.com.au\/blog\/wp-json\/wp\/v2\/posts\/708","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/wordconstructions.com.au\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wordconstructions.com.au\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wordconstructions.com.au\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/wordconstructions.com.au\/blog\/wp-json\/wp\/v2\/comments?post=708"}],"version-history":[{"count":1,"href":"https:\/\/wordconstructions.com.au\/blog\/wp-json\/wp\/v2\/posts\/708\/revisions"}],"predecessor-version":[{"id":709,"href":"https:\/\/wordconstructions.com.au\/blog\/wp-json\/wp\/v2\/posts\/708\/revisions\/709"}],"wp:attachment":[{"href":"https:\/\/wordconstructions.com.au\/blog\/wp-json\/wp\/v2\/media?parent=708"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wordconstructions.com.au\/blog\/wp-json\/wp\/v2\/categories?post=708"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wordconstructions.com.au\/blog\/wp-json\/wp\/v2\/tags?post=708"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}