Did somebody say 120% rebate on web page design for small business?!
As part of the Federal Budget 2022-23, rebates of 120% (up to $100K) are available when small businesses invest in digital items such as a laptop, cyber-security, cloud computing, accounting, e-invoicing software, and... wait for it... WEB PAGE DESIGN!
This is all part of the Technology Investment Boost announced by Treasurer Josh Frydenberg who said "From tonight, every hundred dollars these small businesses spend on digital technologies - like cloud computing, e-invoicing, cyber secuirty and web design - will see them get a $120 tax deduction... Investments of up to $100,000 per year will be supported by this new measure."
So how does the rebate work?
This measure will apply to expenditure incurred in the period commencing from 7:30pm AEDT 29 March 2022 until 30 June 2023.
For eligible expenditure incurred between 7:30pm AEDT 29 March 2022 until 30 June 2022:
- claim the expenditure as usual in your 2021-22 tax return, and
- claim the additional 20% bonus deducation for this period in your 2022-23 tax return.
For eligible expenditure incurred from 1 July 2022 until 30 June 2023:
- you can deduct the entire 120% in your 2022-23 tax return
What does KEO have to do with any of this?
Uh, we build websites! Really cool ones too!!
If you want to take full advantage of this incredible opportunity for small business, get in touch and tell us a bit about your project!
Curiosity drives us, professionalism keeps us sane.
Come for the work; stay for the fun. Discuss, laugh, holler and enjoy the challenging work of growing your business and creating something meaningful.
Lead Creative Designer
Front End Developer
Senior Software Developer