Small businesses, with aggregated annual turnover of less than $50 million, will be able to deduct an additional 20 percent of the cost incurred on business expenses and depreciating assets that support their digital adoption, such subscriptions to cloud-based services.
In other words…
- Every hundred dollars you spend to streamline your shipping using Freight Exchange, you can get a tax deduction of $120.
- Or, if you send 1000 shipments per month and your subscription cost for Freight Exchange is $200 per month, aka $2400 per year. This means that you can claim an additional $2880 in tax deductions; from today onwards.
- Read more on Budget 2022-2023 Website
The additional benefit will apply to eligible expenditures incurred from 29th March 2022 (Budget night) night until 30 June 2023, with an annual cap of $100,000.
To be eligible for this incentive, you must:
- Be a registered business with an ABN
- Make less than $50 million in revenue
- Only use the bonus for eligible expenditures such as portable payment devices, cyber security systems and subscriptions to cloud based services like Freight Exchange Shipping Software.
Save 25% On Manual Work, Ship 5x Faster & Get 20% Bonus Tax Deduction; Win Win!
If you’ve been looking to switch to cloud based shipping software, now’s the time. Save on Freight Exchange when you:
- Sign up on a monthly subscription package, starting from $0.15/Shipment
- Lock in an annual contract where you pay for shipments in advance
Looking to speak to someone? You can book in a demo with our specialist team here.