Government providing 10% investment allowance at NMW

The Australian government’s recently announced 10% investment allowance for capital equipment purchases means good news for buyers visiting National Manufacturing Week (NMW), to be held at the Melbourne Convention and Exhibition Centre from 12–15 May 2009.

As part of its $4.7 billion statement on December 12, the federal government announced a 10% investment allowance to encourage businesses to undertake capital investment.

NMW 2009 will be one of the final opportunities to take advantage of the incentive, which applies to equipment purchased between the date of the announcement and 30 June 2009. The equipment must be delivered by June 2010.

The incentive is available to businesses that acquire new “tangible depreciating assets” costing more than $10,000. Such assets include most types of plant and equipment, vehicles and other assets used by businesses.

“With the manufacturing sector facing the same uncertainty as many other industries in the wake of the global financial crisis, the announcement of the 10% investment allowance has the potential to provide a real boost in confidence,” said show organiser, Paul Baker, from Reed Exhibitions.

“The investment allowance will help reduce the cost of new equipment purchases for manufacturers, workshops and suppliers, with its timing providing a strong incentive to visit NMW."