Small Business Boost – 120% Tax Rebate on Digital Services

Do you want to boost your online presence, but didn’t have the funds to do it? The Australian Government is now offering an attractive incentive for small businesses with a revenue of less than $50 million a 120% rebate on technology / digital.

Small Business Technology Investment Boost

Small businesses (with an aggregated annual turnover of less than $50 million) will be able to deduct an additional 20 per cent of the cost incurred on business expenses and depreciating assets that support their digital adoption, such as portable payment devices, cyber security systems or subscriptions to cloud-based services.

Businesses may continue to deduct expenditure that is ineligible for the bonus deduction under the existing tax law. We will provide further details on eligible expenses once the law has passed.

An annual $100,000 cap will apply to each qualifying income year. Businesses can continue to deduct expenditure over $100,000 under existing law.

What can you claim?

Digital Products & Services such as:

 

M1G is a full-service digital agency that accelerates the growth and online presence of SMEs. If the service you’re looking for isn’t on the list, check with us to see whether you’re qualified! hello@marketingone.com.au (or 07 3186 8445)

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