Manufacturing News

NMW’s timing described as ideal for new 10% investment allowance

THE Australian Government’s recently announced 10% investment allowance for capital equipment pur­chases — including manufacturing-related products and equipment — means good news for buyers visiting National Manufacturing Week (NMW), to be held at the Melbourne Convention and Exhibition Centre from May 12-15, 2009.

NMW 2009 will be one of the final opportunities for those in the manu­facturing and related sectors to take advantage of the incentive, introduced on December 13 to encourage capital investment by Australian businesses in these challenging financial times, said Paul Baker, Reed Exhibitions’ exhibition manager for the show.

As part of its $4.7bn statement on December 12, the Federal Government announced a 10% investment allowance to encourage businesses to undertake capital investment.

It will be available to businesses that acquire new “tangible depreciating assets” costing more than $10,000. Such assets include most types of plant and equipment, vehicles and other assets used by businesses.

The allowance applies to equipment purchased between the date of the announcement on December 12 and June 30, 2009, and which is delivered by June 2010.

“With the manufacturing sector fac­ing the same uncertainty as many other industries in the wake of the global financial crisis, the announce­ment of the 10% investment allowance has the potential to provide a real boost in confidence,” said Baker.

For more detailed information on how the Investment Allowance may apply to your business, contact the ATO on 132 866 or your accountant or financial advisor.

For further informa­tion on NMW 2009 call John Delpech on 02 9422 2568, email john.delpech@reedexhibitions.com.au, website www.nationalmanufacturing­week.com.au.

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