The Australian government have recently announced 10% investment allowance for capital equipment purchases, including manufacturing-related products and equipment. This means good news for buyers visiting National Manufacturing Week (NMW) 2009, to be held at the Melbourne Convention and Exhibition Centre.
According to Paul Baker, Exhibition Manager, Reed Exhibitions , NMW 2009 will be one of the final opportunities for those in the manufacturing and related sectors to take advantage of the incentive. NMW 2009 was introduced to encourage capital investment by Australian businesses in these challenging financial times.
As part of its $4.7 billion statement on December, 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 that cost 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.
The investment allowance will help to reduce the cost of new equipment purchases for manufacturers, workshops and suppliers, with its timing providing a strong incentive to visit NMW.