Called the – small businesses and general business tax break – the measure includes a 30 cent in every dollar investment tax break for small and general businesses buying eligible assets.

Hagop Tchamkertenian, national manager policy and government affairs at Printing Industries says the most recent small business tax break coupled with the Government’s previously announced PacPrint 10 per cent Temporary Investment Allowance, should spur printers into spending dollars.

He says, “Due to the economic down turn any tax break at this stage is a welcome measure because if it’s going to bring investments it’s a good thing.”

Under the new measures, small businesses can claim an additional 30 per cent tax deduction for eligible assets costing $1,000 or more that they acquire from December 13 2008 to June 30 2009, and install by 30 June 2010.

For eligible assets costing $1,000 or more acquired from July 1 2009 to December 31 2009, they can claim an additional 10 per cent deduction where they are installed by December 31 2010.

To benefit from this tax break a small business must have a turnover of $2 million a year or less. Other businesses can receive the same deductions for eligible assets greater than $10,000.

Tchamkertenian continues, “The government obviously wants companies to invest now and with the recent tax break as well as the PacPrint 10 per cent allowance it is a good year for printers to expand their capital expenditure.”

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