The Technology Investment Boost promises 20% ‘bonus’ tax breaks to small businesses investing up $100,000 in new tech, equating to a maximum deduction of $20,000.
Should the bill not pass before June 30 this year, small businesses which upgraded their technology in 2022-2023 on the expectation of a generous tax break will go into the new financial year without legislation underpinning their 'bonus' deductions.
