What’s on offer?
Eligible businesses can get up to 30% off Tanda, as part of a new tax deduction announced by the Federal Government.
The Coalition revealed the write-off in this year’s budget, and it will continue under the newly elected Albanese Labor Government. It will allow businesses to deduct up to 120% of the cost of investing in new technologies at tax time.
The tax write-off is restricted to businesses with a turnover of less than $50 million, allowing them to deduct the cost of expenses that support digital adoption, including subscriptions to cloud-based services like Tanda.
Delivering the Budget, Treasurer Josh Frydenberg said he believes new technology and cloud-based computing services will turbo-charge Australia’s economic recovery.
“In this Budget, we are also backing small businesses that are embracing the digital revolution.
“From tonight, every $100 these small businesses spend on digital technologies like cloud computing, eInvoicing and cyber security, will see them get a $120 tax deduction.
“Lower taxes for small business is part of our plan for a stronger future.”Josh Frydenberg, Treasurer.
Tanda is proud to have played a role in advocating for the Technology Investment Boost. Founder & Chief Executive Jake Phillpott, and General Manager Phil Johnson flew to Canberra ahead of the Federal Budget to make the case for the policy.
Tanda General Manager Phil Johnson said making it easier to adopt new technology will be a game-changer for many operators.
“Cloud computing has a major role in the growth of every Australian business.
“No other software vendor fights for the interests of their business like Tanda does.”Phil Johnson, General Manager, Tanda.
How can you access?
The Technology Investment Boost is capped at $100,000, and takes effect from 29 March 2022 (budget night), until 30 June 2023. This means businesses will be able to use the write-off in both FY22 and FY23.
The policy substantially reduces the cost of Tanda per employee for all customers with a turnover of less than $50 million. For example, an enterprise with 50 staff would save $1,440 a year.
Tanda recommends existing customers speak to their accountant if they have detailed questions around the operation of the deduction. To get in touch with our team to trial Tanda today, click the link below.