May 17, 2009
TAX BREAK CALCULATOR ONLINE NOW
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Farmers considering buying new equipment can now use an online calculator to assess the benefit they might receive under the Federal Government's proposed 50 per cent small business tax break. The calculator, developed by CNH Capital, the finance company behind Case IH, can be accessed at www.caseih.com/stimulus
"The calculator allows farmers to enter the approximate cost of their new equipment so they can get an idea of how much the investment allowance benefit might be worth to them," says
Case IH Marketing Manager Stuart Brown. "There's also a finance calculator where they can compare a range of different finance products including mortgages and lease options. They can see how the finance package would change with various levels of deposit, balloon payment options, loan terms and interest rates."
Stuart says the calculator is a good starting point for farmers wanting to decide whether now is the right time to buy. "It's designed to be very easy to use and to give a quick picture of what the small business tax break might mean for them based on the finance options they're most interested in. Farmers should still talk to their finance or tax adviser before making any decisions, as eligibility will depend on their personal circumstances."
According to a draft of the Act, the proposed small business tax break for equipment purchases will be available to farmers who order by 31 December 2009, for machinery delivered by 31 December 2010.
Case IH can also help customers finance their purchases. "We can arrange competitive finance, and with our CNH Capital Express offering, customers eligible for finance will have their application approved in under 90 minutes."
NOTE: The small business tax break is subject to Parliamentary approval and eligibility will depend on individual circumstances.
