Technology Investment Boost
As from budget night, you can deduct an additional 20% of the expense the business incurs on expenses that support digital adoption such as cyber security systems or subscriptions to cloud-based services. For Example – if you spend $1000 on this then you can claim an expense of $1200 on the business tax return. However this is capped at an expense of $100,000 per year. This is until 30 June 2023.