EEN Cloud Eligible For Tax Deduction
♦ EEN cloud eligible for tax deduction – Eagle Eye Networks said its cloud CCTV solution will be eligible for the Technology Investment Boost – a tax deduction for Australian small businesses that invest in digital technologies, including cloud video surveillance.
Designed to encourage businesses to embrace the digital revolution by investing in new technologies, the Technology Investment Boost was introduced to Australian Parliament in March. Small businesses with less than $A50 million in revenues can receive a $120 tax deduction for every $100 spent on digital technologies – such as cloud computing and cybersecurity – up to an annual cap of $100,000.
Businesses that invest in cloud video surveillance between March 29, 2022 and June 30, 2022 can claim the expenditure as usual in their 2021–22 tax return, and claim the additional 20 per cent bonus deduction for this period in their 2022–23 tax return. Businesses that invest in cloud video surveillance from July 1, 2022 until June 30, 2023 can deduct the entire 120 per cent in their 2022–23 tax return.
“This is a tremendous opportunity for Aussie small businesses to take advantage of the security, cybersecurity, and business optimization benefits of cloud video surveillance and receive a generous tax break from the technology Investment Boost program,” said Dean Drako, CEO of Eagle Eye Networks.
“We want to make it even easier for business leaders to make technology investments today that will pay dividends for years to come.”
To learn more about Eagle Eye Networks cloud video surveillance, please contact us here.
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