Charter Boat Incentive Increased to 30%

Following initial reports that a 10% tax deduction would be passed onto Australian Charter Boat Investors, the Australian Government has subsequently announced a substantial increase to a very attractive 30% once off tax deduction as part of the $42 billion stimulus package….

The allowance gives businesses a “one off tax deduction” equal to 30% of the Capital Cost on eligible New Equipment, which includes Charter Boats. This is in addition to the standard depreciation claimed for such assets.

For example, on the $850,000 Fusion 40  - Charter, this would mean a tax deduction of $255,000.00. This deduction can also be carried forward.

The main points of the package are:

• For new assets only (not used) 
• Must have a cost price in excess of $10,000
• Eligible capital equipment (including charter boats)
• Acquired or ordered between 13th December 2008 and 30th June 2009
• Installed & ready for use by 30th June 2010

For the Government Press Release on this 30% allowance, please click here.

This leaves a just 4 months to order a boat to take advantage of this incredible incentive and with interest rates a 40 year lows, it might be time to act!

This entry was posted on Thursday, March 12th, 2009 at 3:22 pm and is filed under Boat Share / Boat Charter News. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.