Posted by Cameron Francis
on
08 Apr , 2022
in
Digital Marketing News
Last week’s federal budget announcements from Josh Frydenberg have been a breath of fresh air for small businesses in Australia who are now even more incentivised to invest in digital transformation.Cameron Francis, CEO and Founder of ETRAFFIC, has taken the time to summarise what the announcement means for Australian small businesses below:
- The Australian government has announced that small businesses with less than $50M turnover will be able to claim an extra 20% deduction for expenses and depreciating assets which support digitalisation.
- With the new spending cap, your company can now receive up to $100,000 in funding from budget night until 30 June 2023.
The different types of eligible expenses include the following:
- New websites or websites upgrades
- Integration of CRM
- Automation of sales and marketing
- LinkedIn workshops
- Other investments that have the potential to enhance your digital capability
For example:
Investing $50,000 on a website overhaul in order to improve sales with the inclusion of automation software will allow for an extra deduction of 20%. This equals a deduction of $10,000. With the average tax rate being 25%, this means there’s a potential $2,500 in tax savings.
Don’t miss out! Get in touch with ETRAFFIC today to learn how we can help you with your website, sales, and digital marketing strategies.
