Have you heard the news about the Technology Investment Boost Measure in the 2022 Federal budget?
Australia’s Small and medium sized enterprises (SMEs) will be granted 20% “bonus” tax deduction on the amount they spend on digital adoption and digital skills training.
Budget papers have revealed that businesses will be able to claim that “bonus” deduction on up to $100,000 of expenditure a year.This Technology Investment Boost will apply to any purchases made between 7:30pm March 29th 2022 and June 30th 2023.
Kynection is more affordable than ever. Companies who want to level up their business operations using smart digital technologies to increase efficiency across departments get a bonus thanks to this legislative win.There has been no better time to talk to Kynection, because everyone likes free money.
We thought to share this important update as we approach June 30, because here at Kynection we are all about supporting small businesses to improve their digital capability.
For more information click here.
All information provided is of a general nature and it does not take into account your particular circumstances. No person should act on the basis of this information without first obtaining and following the advice of a suitably qualified professional adviser to assess if the amounts spent can be tax deductible. At the time of writing, this measure has not received Royal Assent.
To the fullest extent permitted by law, no person involved in producing, distributing or providing the information on this email will be liable in any way for any loss or damage suffered by any person through the use of or access to this information.
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