Deductions On Your New Website Design
The current batch of politicians, love them or hate them, are committed to helping businesses digitise as quickly as possible.
Under changes announced last month during the 2022 Federal Budget Announcement, businesses are allowed to deduct $120 for every $100 they spend on services that support their digital capability.
Regardless of where you stand, this is a pretty good deal.
And it includes, you guessed it, web design.
It is available for businesses with an annual turnover of less than $50 million allowing firms to claim the tax break on purchases made between now and June 30, 2024.
You little ripper!
So, say you spend $25K on a brand spanking new website, copywriting and SEO. You as a business owner can deduct $30K. That ultimately means, you can deduct an extra 20%, which should put that little bit more tax back in your pocket – thank you very much Mr Frydenberg. Businesses will be able to claim the “bonus” deduction on up to $100,000 of expenditure a year.
You get a brand new website that will help grow your business and it just costs you approximately 18% less.
Happy days 🤩