of the $20,000 tax break!!
If your business needs a new website or is in the process of developing a new website you can use the Australian Taxation Office $20,000 tax break to fund it!
The head of tax communications at H&R Block Mark Chapman says when it comes to claiming expenses such as a website, some parts are considered capital assets and can be written off under the $20,000 tax break and other elements may be written off straightaway as revenue costs.
“If you’re buying computer equipment and servers, or adding features like online shopping facilities or software that will give your business an ongoing benefit, these are usually regarded as capital expenditure and would be potentially eligible for the write-off,” he says. (Sydney Morning Herald)
You can claim your new website if it is under $20,000 exclusive of GST it will be an immediate tax write-off.
If you are thinking of having a new website built but have upcoming business expenses, now might be a good time to make the purchase so you can make the deduction in the current financial year.
Take advantage of the $20,000 tax break now!!
Call us today to find out how it works, or check the links below to verify availability & validity
Visit the Australian Taxation Office Government Website to verify that this is available until the EOFY 2019.
See an article in the Sydney Morning Herald explaining more about this great tax write off.