Small Business Technology Investment Boost

How does a 120% tax deduction sound? With the new government technology upgrade incentive, you could be even happia!

Hands holding pink piggy bank on wood table

It's all about getting on the cloud and becoming adept digitally. Do you need a new website? An online store? An online accounting system? Portable payment devices? Apps that can sync your files and make them accessible to teams? Cloud based services? These can contribute to your end of year savings on tax, and who doesn't want that!

If your business's annual turnover is less than 50 million, with the incentive you will be able to deduct an additional 20% of the cost for eligible assets up to $100,000, so start spending now!

This includes all purchases made between 29 March 2022 until 30 June 2023. Please click here to view the ATO's website to see if your business is eligible.