From AFR Software tax breaks in $1.2b digital strategy - Business will be allowed to depreciate software, patents, designs, copyrights and other so-called intangible assets more quickly, as part of a $1.2 billion expansion of the government’s digital economy strategy to be incorporated in the May 11 budget. The strategy, to be unveiled on Thursday by Scott Morrison, will also contain tax incentives to promote the development of a stronger gaming industry, funding to help small and medium businesses digitise their processes, and $500 million to give consumers greater access to their health and government data. In announcing the policy, the Prime Minister will frame the budget politically, saying it will be “all about securing Australia’s economic recovery in a world of continuing uncertainty”. “It will be a budget that continues to be framed by the brutal reality of the global pandemic,” he will say.
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