Can you claim the 50% tax allowance when buying a business?

The purchase of a business does not qualify for the investment allowance. An eligibility requirement is that it is a new asset depreciable under Division 40 of the Tax Act. A ‘business’ would not satisfy this. Got a question for one of our Experts? Choose one that suits your area of inquiry and send […]

James Thomson 30 June, 2009

The purchase of a business does not qualify for the investment allowance.

An eligibility requirement is that it is a new asset depreciable under Division 40 of the Tax Act. A ‘business’ would not satisfy this.

Got a question for one of our Experts? Choose one that suits your area of inquiry and send it in to asktheexperts@smartcompany.com.au

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About the author

James Thomson

James was the editor and publisher of SmartCompany and LeadingCompany for five years. He is now the Australian Financial Review‘s companies & markets editor, and a former BRW editor.