This Bill introduces $3.8 billion small business and general business tax breaks to boost business investment, bolster economic activity and support Australian jobs. It amends the (Cth) Income Tax Assessment Act 1997 to provide a temporary bonus income tax deduction for new investment in tangible depreciating assets undertaken between 13 December 2008 and 31 December 2009 to apply to assessments for the 2008-09, 2009-10, 2010-11 and 2011-12 income years.
Introduced: 19 March 2009 by Wayne Swan MP (Treasurer).
