Pharmacists have been warned they have a little more than a month left to claim up to 50 per cent in tax breaks on new computer hardware.
Following an extension by the Federal Government, pharmacies with an annual turnover of less than $2 million had until 31 December to claim a 50 per cent deduction on IT assets, while those with a higher turnover could claim a 10 per cent break, said Medici Capital managing director Frank Sirianni.
"This is your last chance to make eligible asset purchases for depreciable assets under the Government's tax incentives," he said.
"To gain the relevant tax benefits, simply bring forward asset purchases, including eligible IT assets, to before 31 December, 2009. This means you need to be committed to purchase by then, with the actual asset installed or ready for use by 31 December, 2010."
Fred Health national sales manager Byron Mitchell said the Government's extension was particularly valuable for owners of small pharmacies.
"We urge any pharmacies who are already planning new purchases of point-of-sale or computer technologies systems to think about the tangible tax benefits of bringing that commitment forward into this year."