Explaining the SME Digitalisation Incentive

31 March 2022

2 Mins Read

By
WebOracle

Introducing our Community to our Clients

Last night the Federal Government announced the SME Digitalisation Incentive which includes the new Technology Investment Boost. The Technology Investment Boost allows businesses to claim 120% of expenditure on business expenses that support digital adoption, including Websites & Digital Strategy.

What does this actually mean?

If you’ve been thinking about investing in a new or refreshed website, or you’re in need of a digital marketing strategy, this is great news.

Under this new incentive, any investment you make up to $100,000 will automatically qualify for a 120% tax deduction

What’s a real-life example of this?

Jane’s Fine Foods has been in discussion with WebOracle about designing and building a new website. We have quoted the investment required at $10,000.

Under this new incentive, Jane’s Fine Foods can claim an additional amount of $2,000 in deductions, meaning Jane’s Fine Foods can claim a total of $12,000 in deductions at tax time for her new website.

You can read full details about the SME Digitalisation overview, or contact me to discuss how we can help you benefit from this fantastic new Incentive.

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