Digitise your small business with help from the Federal Government’s 2022 budget
The talk across Australia has been all about the winners and losers in the Federal Government’s 2022 budget. Small businesses have come up faring quite well, with a number of investments being made to assist them in recovery from a rough time during the pandemic. One of those investments is the Technology Investment Boost; a $1.0 billion investment to assist small business with digitisation.
What does the Technology Investment Boost involve?
This budget inclusion applies to Australian small businesses with an annual turnover of less than $50 million, and applies to expenditure incurred from 7.30PM AEST on 29/03/2022 until 30/06/2023.
Eligible businesses will be able to claim a bonus 20% deduction for the cost of expenses supporting digital uptake, up to $100,000. This includes spending on services such as:
- Online sales platforms
- Cyber security
- Cloud computing
- Portable payment devices
- Website design
Simply put, this means for every $100 you spend on these digital technologies, if eligible, you can claim a $120 deduction!
Now is the time to go digital
What does all this mean? It’s an excellent time to invest in your business’ digital growth and make the most of all that doing digital can do! Build that website, buy that software, and provide your clients and customers with seamless online experiences.
At Bloom, we can help you with this! Our website design and eCommerce website design services are qualified eligible expenditure items, which means you can benefit from our beautifully designed, highly functional websites.
We think this is an incredible initiative from our Federal Government, and look forward to helping businesses like yours grow. Contact us today to learn more about our digital technology services!