Write it off!
How you can use the ATO’s $20,000 Instant Asset Threshold to write off your website or tech.
You can’t get something for nothing, right? An old adage to be sure and one that we’ve all heard a thousand times but occasionally it is true. Until the end of this financial year the ATO is allowing automatic tax write offs of up to $20,000 for depreciable items. Your accountant will be able to provide you with details of scheme and can provide guidance on whether you and your business qualify or have a look at this article.
When we think of depreciable items in our business, most of us think of something we can hold, right? A computer, a new piece of equipment, some furniture. But your website is absolutely a depreciable item and we can change the way we look at our business if we consider it as such.
Websites require capital outlay and need to be replaced after a certain amount of time. Just like the signage you have at the front of your building, or your new car. With your website, if it’s built right the first time this timeframe can be extended, and if it is maintained over it’s life much of it can be reused. However with the current, frequent changes in technology that we see, we must all start to think of our digital platforms as something that is re-evaluated and even re-imagined every 3 -5 years.
So when was the last time you re-imagined your website? Are you ready to do business differently and need a platform to help you do this? Then that’s where we can help!
Get in touch via email [email protected] or give me a call on 0437548342. And remember the 30th of June rolls around quickly so don’t leave it another week or two, get in touch today.