General

https://amp-theguardian-com.cdn.ampproject.org/c/s/amp.theguardian.com/australia-news/2022/mar/29/australia-federal-budget-2022-small-business-technology-training-boost

Another golden opportunity laid on a plate for JCS. Win Win situation for JCS and SME clients. Very positive situation is that it can already be implemented in Q4 and JCS and clients can take advantage of the same tax deductions again in 3 months times again for next FY.

If Q4 final revenue for Australian customers isn’t off the charts then questions must be asked why not.

For the estimated 3.6m businesses with an annual turnover of less than $50m, eligible costs incurred can be claimed.

“Every $100 these SME businesses spend on digital tech like CLOUD COMPUTING, E-INVOICING, Cybersecurity and WEB DESIGN will see them get a $120 tax reduction.” Frydenberg said.

The Technology Investment Boost allows businesses to claim the bonus 20% deduction for the cost of expenses and depreciating assets, such as portable payment devices, cybersecurity systems and subscriptions to cloud based services.

Small businesses that spend on new technologies and training courses to upskill staff will be able to claim 120% of the costs as deductions, as part of budget measures that will cost the government $1.6bn in tax revenue.ing can be deducted from their taxable revenue at an amount greater than what was actually spent.


JCS is finally becoming a stronger buy IMO and speculation on future PE should take the SP higher if they manage this correctly and expected figures for the next few quarters go to plan.

CC