Originally Posted by
Office Update
It was the era of "bottom of the Harbor Tax schemes" the government had a 45% investment tax allowance..
Schutt's at Moorabbin sold out to car dealers "Brents" (Brian Foreshaw and Ted Sent) and the company became "Jet Corporation" they sold CASA 212's and Westwind Jets, a squadron of 12 C172's/C182' would arrive overhead in formation. Glorious times !
One of Foreshaw's daughters/neices/cousins fly for Qantas
Yes there was an investment allowance scheme that allowed any new equipment purchased to be offset against the income of successful business, wether it be boats, tractors or aircraft, whatever. I worked for a aviation company in OZ owned by 3 Americans and 1 Australian who imported 3 new Mitsubishi turbo props and 1 Mitsubishi Jet. The tax benefits were written off/claimed against cotton farms around Moree and Wee Waa and other lucrative outfits. It was good for everybody, especially GA with all sorts of great machines arriving to replace old bugsmashers.