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Deduct 120% of your web design costs

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Is it time to upgrade your tired website or store? Or starting fresh perhaps? Did you hear the great news in the new Federal Budget? You can deduct 120% of the cost to do this!

The Australian Federal Government announced a technology investment boost, aimed at small businesses (with aggregated annual turnover of less than $50 Million) to support digital adoption.

From now until 30 June 2023 businesses that fit the turnover criteria will be able to deduct an additional 20% of the cost incurred on business expenses and depreciating assets that support their digital adoption. Examples include portable payment devices, cyber security systems or subscriptions to cloud-based services.

There’s a cap of $100,000 per income year on eligible expenditure. You can spend more than $100,000 but can only claim the additional 20% deduction on eligible expenditure up to $100,000.

Further details are available on the ATO website.

Business owners are advised to seek advice from their accountants on their eligibility for the additional deductions, before making any purchasing decisions.

chrisDeduct 120% of your web design costs