Claim a 20% bonus deduction on technology expenditure to help digitise your small business..
The Small Business Technology Investment Boost offers eligible businesses a bonus deduction equal to 20% of their eligible expenditure incurred on expenses and depreciating assets related to their digital operations or the digitisation of their operations. This boost applies to expenses incurred between 7:30 pm (AEDT) on March 29, 2022, and June 30, 2023.
What can or can’t qualify?
There is potentially a wide range of things that could qualify. What can or can’t qualify? For eligible expenditure to qualify, you need to ask the question - Does this expenditure relate to your business digital operations, or digitising your business or business operations?
IMPORTANT!! - you will need to have keep documentation of the expense!
Eligible expenditure may include, but is not limited to:
Digital enabling items like computer and telecommunications hardware, software, internet costs, and systems.
Digital media and marketing, such as audio and visual content accessible on digital devices and web page design.
E-commerce-related expenses like digital inventory management, portable payment devices, and subscriptions to cloud-based services.
Cybersecurity systems, backup management, and monitoring services.
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Disclaimer: This is general information only and is not advice of any sort.
