Budget has great news for business owners and first home buyers

The federal government released its budget for the 2009/2010 financial year last night and it has some very positive news for business owners and first home buyers.

For Business Owners the government is extending and increasing its investment allowance for the purchase of new items such as motor vehicles, computers and office equipment. The allowance has been increased to 50% and has been extended to 31 December 2009.

For first home buyers the First Home Buyers Grant (FHOG) has been extended for a further 6 months. Three months at the full rate of $14,000 for the purchase of established properties and $21,000 if building a new house before being stepped down to half the rate between 1 October 2009 and 31 December 2009. That means a first home buyer will receive $10,500 for buying an established home and $14,000 for building.

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