Temporary tax breaks for businesses is one of the key sections of the Federal Government $42 billion economic stimulus package announced earlier this year. The tax breaks have yet to pass through Parliament but when they do Australian businesses undertaking capital investment this year will be able to significantly cut their tax liability.

If you own or run a business it’s important you know the details of the draft legislation and your entitlements. To help educate business the Australian Government’s Treasury Department has released a Frequently Asked Questions document regarding the tax break:

• To view the Small Business and General Business Tax Break document click here.

• To read more about the tax breaks and the economic stimulus package, visit www.davenports.biz/govannounce.html.

Phone Davenports on (03) 9510 7600 or email info@davenports.biz if you have any questions on the tax break. Our aim is to ensure you pay the minimum amount of tax legally payable and claim every benefit you are entitled to.