What is the Technology Investment Boost?
Small businesses in Australia, with aggregated annual turnover of less than $50 million, will be able to deduct an additional 20% of the cost incurred on business expenses and depreciating assets that support their digital adoption, such as subscriptions to cloud-based services.
What does this mean for your small business?
Eligible businesses can claim a 120% deduction, so if you spend $5000 on digital technologies like cloud computing, e-invoicing, cybersecurity and web design, you can claim back $6000. An annual $100,000 cap will apply to each qualifying income year. Learn how you can claim this expenditure here.
Get ready for the future of work
At a time when digital transformation is a vital component in navigating the future of work, this support couldn’t come at a better time! Find out how you can use this technology boost to invest in ELMO Software and help your organisation manage its people, process and pay. Complete the form below and a member of the ELMO team will contact you shortly:
Please note that the above contains general information only and is not a substitute for legal advice. ELMO does not accept any liability for any action taken based on the information presented. It is your responsibility to ensure you are eligible for the Small Business Technology Investment Boost before taking any action.