Small business owners will receive up to $1 billion in tax breaks for digital spending, including upgrades to cybersecurity systems or online sales platforms, as the government pushes more firms to embrace the online economy.
The government said spending of up to $100,000 a year would be eligible for the bonus deduction, and firms would be able to claim the tax break on purchases made between now and June 30, 2023. The change was announced alongside a 20 per cent bonus deduction for small business spending on training staff and comes after the government previously extended its instant asset write-off scheme for small businesses until June 2023. Banks have credited the instant asset write-off with sparking a surge in spending on equipment such as tractors and utes.
nowadays our main problem is the cyber threat. we should aware of it.