 Purchase your new website before the EOFY and claim back $120 for every $100 spent.The release of the 2022 Federal Budget last week brings good news for Small Businesses! Josh Frydenberg says the Technology Investment Boost will help companies embrace digital revolution. “From tonight, every $100 these small businesses spend on digital technologies like cloud computing, eInvoicing, cybersecurity and web design, will see them get a $120 tax deduction," Mr Frydenberg said on Tuesday 29 March 2022. The Morrison Government, in their 2022-23 Budget have included a wide range of small business incentives to support small business growth and increase digital uptake.
The Government's Technology Investment Boost will support businesses to invest more in their digital capability including websites and other cloud based infrastructure. If you are a small business with an annual turnover of less than $50 million, you will be able to claim a bonus 20 percent deduction for the cost of expenses and depreciating assets not exceeding $100,000 of expenditure per year. The boost will apply to expenditure incurred from 7:30pm (AEDT) on 29 March 2022 (Budget night) until 30 June 2023. [source 1] Budget documents said businesses would be able to claim the bonus deduction on a range of spending, including improvements to cybersecurity systems, digital tracking for livestock, subscriptions to enhance data analytics and marketing, and a digital inventory tracking system. [source 2] There's never been a better time to upgrade your website and digital infrastructure! Speak to us today about how you can take advantage of these incentives. *We are not accountants, please speak to your tax professional for advice relating to how this may affect your tax returns. Source 1: https://www.pm.gov.au/media/digital-and-skills-tax-boost-small-businesses Source 2: https://www.smh.com.au/politics/federal/small-business-gets-1-billion-to-go-digital-20220323-p5a79p.html |
Noize AuthorsMarketing and tech guru's from the Noize team. Archives
April 2022
Categories |
RSS Feed
×
|
|
|
|
|
|
|
|
In an effort to ensure the safety of our team during COVID, Noize Agency now operates at full work capacity 100% remotely. Use the above buttons and your request will immediately go to the relevant team member to be actioned as soon as possible. View our Payment & Terms of Service.