January 17, 2022

New Web Design Tax Deductions for QLD Small Businesses

Under changes announced during the Federal Budget Announcement, the Australian Government will provide $1.0 billion to eligible small businesses via a new Technology Investment Boost program.

Thanks to these changes, eligible small businesses can deduct $120 for every $100 they spend on approved services that support their digital capability. And guess what? That includes website design services.

So what does this mean for you?

If you invested $25k in a new website to help your business generate new leads, you could theoretically deduct $30k. Basically you would get a new professional website that costs approximately 18% less and helps market your business online.

This budget inclusion applies to Australian small businesses with an annual turnover of less than $50 million and applies to expenditure incurred from 7.30 PM AEST on 29/03/2022 until 30/06/2023.

Eligible businesses will be able to claim a bonus 20% deduction for the cost of expenses supporting digital uptake, up to $100,000.

As always we recommend speaking to a licensed tax professional. This material has been prepared for informational purposes only, and is not intended to provide, and should not be relied on for, tax, legal or accounting advice. You should consult your own tax, legal and accounting advisors before engaging in any transaction.

Sources:

Budget Overview for Australian Small Business | 2022 - 23 Budget

Small Business Technology Investment Boost | Australian Taxation Office

This includes spending on services such as:

  • Online sales platforms
  • Cyber security
  • Cloud computing
  • Portable payment devices
  • Website design

Please keep in mind that the clients that make the most money from our services tend to have an existing team and operate as a service-based business with a proven business model.

If this sounds like you and you want to speak to us about what a new website could do for your business, simply call us on (07) 5654 7575 or contact us.

Have a project in mind?

The Falcon is a Gold Coast based marketing agency that works with small business owners to generate results via marketing & graphic design services.

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