Reduce your tax by getting your new website before June 30
It makes a lot of financial sense to bring forward expenditure in the last quarter of the financial year. Business typically bring forward expenditure to manage cashflows efficiently. It also assists with the minimisation of company tax.
So are you are planning to upgrade or purchase a new website for your business and reduce your tax? Well now is the time to act in order to lock in the expense. This should be done prior to 30 June.
How does it work?
It may be possible to obtain an immediate tax deduction or spread it over a period of years. This is subject to the method used to claim the expense. And costs for running and maintaining a website are generally immediately deductible in the year the expense in incurred.
For Australian companies, the year in which deductible expenses for websites and annual web hosting can be made is June 30 of each year.
If you decide to upgrade or get a new website from Webtron, we can issue the invoice before the end of the tax year.
Even if you don’t pay for it straight away, you can still get a tax deduction for the expense in this financial year.
Get in quick.
One word of warning: this is typically our busiest time of year for taking orders on new websites, due to the fact businesses just like yours are trying to reduce their tax prior to June 30 too. So the sooner you place the order, the earlier Webtron will be able to start designing your new website.
Where can I find more information on this?
Please refer to the Australian Tax Office (ATO) website for further information regarding income and deductions, and claiming website costs: https://www.ato.gov.au/Business/Income-and-deductions-for-business/In-detail/Other-deductions/Claiming-website-costs/
Contact Webtron today for a website that provides countless opportunities for your business.