As an SME here’s what you need to know about the new Technology Investment Boost…

Isabelle Thomas

Did you know that from March 29th, 2022, until 30 June 2023, businesses with annual turnover of less than $50m will be able to get a $120 tax deduction for every $100 spent on digital technology?

Under the Technology Investment Boost, these businesses will be able to deduct a bonus 20 per cent of the cost of business expenses and depreciating assets that support digital uptake, up to $100,000 worth of expenditure. The same applies to spend on external training courses for employees. Read more about it below.