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.
