EOFY Tech for Business

Small Business Technology Investment Boost

Pending the outcome of a bill in parliament, is a bonus deduction of 20% for small business digital operations expenditure capped at $20,000 for 2023FY and scheduled to end 30/06/2023.

Business expenditure may include, but is not limited to;

• digital enabling items – computer and telecommunications hardware and equipment, software, systems and services that form and facilitate the use of computer networks;

• digital media and marketing – audio and visual content that can be created, accessed, stored or viewed on digital devices; and

• e-commerce –supporting digitally ordered or platform enabled online transactions

• portable payment devices, cyber security systems or subscriptions to cloud based services

These measures are not yet law. We cannot claim the boosts until the law is enacted.

If you have small business expenditure on digital operations, we can delay lodging your 2023 tax return until the law is enacted. Alternatively, we can lodge your return and claim your ordinary deduction for the technology investment expenditure.