What is the Small Business Technology Investment Boost?

As part of our commitment to ensuring you’re always informed about opportunities that could benefit your business, we’re thrilled to bring to your attention the Small Business Technology Investment Boost recently announced by the ATO.

The ATO has recognised the essential role of digital operations in modern business. To support small businesses in enhancing their digital footprint and operations, they’re offering a tax incentive.

Here’s what you need to know:

1. Who’s Eligible? If your business has an aggregated annual turnover of less than $50 million, you’re in!
2. What’s the Deal? Get an additional 20% tax deduction on eligible expenditure related to supporting and digitizing your business operations.
3. Time Frame: The boost applies to expenses incurred from 7:30 pm AEDT on 29 March 2022 through to 30 June 2023.
4. Cap on Expenditure: There’s a cap of $100,000 on eligible expenditure per income year, which means you can secure a maximum bonus deduction of $20,000 annually.

What can you claim?

Eligible expenditure may include, but is not limited to, business expenditure on:
• digital enabling items – computer and telecommunications hardware and equipment, software, internet costs, 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, including web page design

Why This Matters For You

As a client of AiiMS, leveraging this boost could supercharge your digital marketing strategies and infrastructure. Whether you’re thinking of revamping your website, investing in new digital tools, or expanding your online advertising campaigns, this is the optimal time to make those moves. Not only do you receive the direct benefits of these investments, but you also enjoy a substantial tax deduction!

What’s the Next Step?

Review Your Plans: Assess your current and upcoming digital needs. It might be the perfect time to plan or accelerate certain initiatives.

Consult with Your Accountant: Ensure you understand how to best utilize this tax boost and stay within the eligibility criteria.

Reach Out to Us: Let’s discuss how we can align your digital marketing strategy with these opportunities. We’re here to help maximize the return on your investments.

Contact the AiiMS Team

The CSSDA crew are announced that the iecc.com.au website has been voted by the public to win Best UI Design, Best UX Design and Best Innovation!

The collaborative efforts between each department has proudly given AiiMS Group the lead with an award leading in User Interface, User Experience and Innovation.

How would you like to claim back 120% on your Google Ads and service fees or website? The government has announced a deduction of 20 per cent of the cost .

Have you wanted to amp up your online presence but haven’t had the budget for it? Well, the Australian Government is offering a pretty tempting rebate for any business earning below $50m a 120% rebate on technology. 

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 expenditures over $100,000 under existing law.

What you can claim back

Digital Marketing Products & Services such as:

AiiMS is a full-service digital production and marketing agency that assists in the online presence and growth of SMEs. If what you’re after is not on the list reach out to see if you’re eligible! info@aiims.com.au or 1300 397 603