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With the announcement of the Federal Government’s new 20% tax break bonus, there’s never been a better time to streamline your business and join the digital revolution.
As part of their Small Business Technology Investment Boost, the Federal Government has announced an additional 20% tax break bonus for small businesses investing in digital technology. This can be claimed on top of the tax deductions already available to SMEs.
This exciting new policy aims to help Australian SMEs adapt, innovate and excel in an increasingly digital economy. This new tax break can be claimed on eligible expenditures incurred between 7:30 pm (AEDT) on 29 March 2022 (Budget Night) and 30 June 2023.
The great news for businesses looking to go digital is that eligible expenditure includes subscriptions to cloud-based services, including Canon’s uniFLOW Online and Therefore Online cloud-based solutions.
Canon uniFLOW Online is a cloud-based service that pairs seamlessly with Canon imageRUNNER ADVANCE Multifunction Device printers and print fleets. Streamline your business with fast and secure print and scan solutions, while reducing your printing costs and increasing productivity.
As well as being eligible for the Federal Government’s bonus 20% tax break, here’s how uniFLOW Online can benefit your business:
• Local data centres with round-the-clock maintenance.
• Centralised control that enables your employees to print documents securely from anywhere in the world – ideal for hybrid businesses.
• Enhanced security features to help against data breaches and theft of intellectual property.
• 24-hour mobile printing, 7 days a week – ideal for international teams.
• Quick and easy tracking of print and copy costs, as well as detailed records of individual team member usage.
Find out more about uniFLOW Online and enquire here.
Therefore Online is a powerful information management system that enables you to automate important administrative tasks, leaving you free to focus on growth and your core business.
As well as being eligible for the Federal Government’s bonus 20% tax break, here’s how Canon Therefore Online can help cut your business costs and boost efficiency:
• Quickly save documents and critical business information into a logical, organised system.
• Increase efficiency by finding any document you need in seconds, no matter where you are.
• Gain traceability and relieve administrative burdens.
• Streamline and improve customer service.
Find out more about Therefore Online and enquire here.
The Federal Government’s 20% tax break bonus can be claimed on eligible digital business investments made between 7:30 pm AEDT 29 March 2022 and 30 June 2022.
Subscribe to uniFLOW Online and/or Therefore™ and claim the expenditure as usual in your 2021–22 tax return. You can then claim the additional 20% bonus deduction for this period in your 2022–23 tax return.
For eligible expenditure incurred from 1 July 2022 until 30 June 2023, you can deduct the entire 120% in your 2022–23 tax return.
Canon Australia is not offering tax advice. You should check with your accountant or business advisor on eligibility for your specific circumstances. More information can be found on the ATO website that notes the Australian Government is now in caretaker mode due to the upcoming 2022 election and these budget-announced measures are not yet, and may not become, law.
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