Small business has until 31 December 2009 to invest and get the 50% tax deduction.

If your annual turnover is less than $2m, you are a small business which is the first step in qualifying for the 50% tax break.

Other key requirements are:-

• brand new (demonstration use allowed only)
• primarily for business use
• cost more than $1,000
• commitment date before 31 December 2009
• installed/ready for use before 31 December 2010
• excludes intangibles and software

Hire purchase, leasing and chattel mortgages create a new set of problems with commitment dates and ownership, so don’t wait till the last moment.