Claim a bonus 20% deduction on digital expenditure

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



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