As the end of the financial year (EOFY) approaches it's a critical time for Australian small and medium-sized businesses (SMBs) to leverage government incentives.
Australia's 2.5 million SMBs are crucial drivers of innovation and productivity, contributing over $500 billion to the economy and employing 5.2 million people.
Following the 2024 Budget announcement $641.4 million has been allocated to support SMBs.
“This period offers unique opportunities for our technology partners to support their end customers in their financial strategies and driving growth. As a trusted and value-added distributor to the SMB market, Dicker Data is providing a detailed look at the key incentives and opportunities relevant to our sector and your end-customers from The Budget and ahead of EOFY."
The Australian Government's Instant Asset Write-Off scheme has been extended until 30 June 2025, enabling SMEs with turnovers under $10 million to deduct the full costs of eligible assets valued under $20,000. This extension aims to enhance cash flow, reduce compliance costs, and stimulate investment in business-critical areas like technology.
For technology providers, this extension brings forth substantial opportunities to support customers in upgrading IT infrastructure, acquiring new equipment, or investing in innovative software and solutions.
technology partners and IT resellers can leverage the Instant Asset Write-Off Scheme and encourage SMB customers to invest in digital tools and solutions. This not only accelerates a customer's digital transformation journey, but it helps accelerate business opportunity for partners.
By leveraging this scheme, Dicker Data partners can tap into more than 100 global and local Tier One vendors across all walks of technology; hardware, software, cloud, security and IoT offerings to embrace digital transformation without immediate financial strain – for both their business and their customers’ business.
Assets with a value of $20,000 or higher (not eligible for immediate deduction) can be added to the small business simplified depreciation pool – which will depreciate at a rate of 15% in the first income year and 30% in subsequent income years.
SMBs with an annual turnover under $50 million can get a 20% tax deduction to boost their digital operations strategies. To qualify, expenditure must already be deductible for your business under taxation law and be incurred between 7:30 pm AEDT on 29 March 2022 and 30 June 2023.
The boost is for business expenses and depreciating assets and is capped at $100,000 of expenditure per income year. IT partners or their customers can receive a maximum bonus deduction of $20,000 per income year.
Eligible expenditure may include, but is not limited to, business expenditure on:
On May 14, 2024, Treasurer Jim Chalmers presented his third Federal Budget, outlining the Australian Government’s revenue and expenditure plans for the upcoming fiscal year. This Budget includes several initiatives aimed at bolstering the technology sector and supporting small and medium-sized businesses (SMBs). Here are the key highlights our partners should know about to help optimise customer projects and digital transformation strategies:
1) Safe and Responsible AI
The Government will invest $39.9 million over five years to support the safe and responsible adoption of artificial intelligence (AI) technology. Key allocations include:
2) Staying Secure Online
The Australian Government is supporting SMEs to strengthen their online security as they embrace and continue to adopt digital opportunities. Key initiatives include:
3) Strengthening R&D Policies to Support Investment in New Technologies and Capabilities
The government is undertaking a strategic examination of Australia’s research and development (R&D) policies to ensure alignment with national priorities and enhance innovation outcomes. This initiative aims to create a more robust and effective R&D framework.
4) Supporting STEM Workforce Diversity to Address the Skills Shortage
An investment of $38.2 million over eight years will support a diverse and skilled science, technology, engineering, and mathematics (STEM) workforce. This funding will expand existing programs focusing on women, First Nations people, and other underrepresented groups in STEM fields.
5) Combating Scams and Fraud
The Australian Taxation Office (ATO) will receive $187 million to combat tax and superannuation fraud, including real-time tools to block suspicious activity and a taskforce to recover lost revenue. Additionally, $23.3 million is allocated to maintain the e-invoicing network to prevent email-based scams.
Dicker Data represent the world’s leading cybersecurity technology vendors. Partners can work with our team of experts to get teams on the same page with cybercrime and fraud risk. To learn more, reach out via sales@dickerdata.com.au.
May through June 30th is busy for everyone. With technology continually becoming more complex, and the expectations of your end-customers higher than ever, keeping across the latest trends and technological advancements is easier than ever with the support of your local, Australian distributor, Dicker Data.
Take advantage of Dicker Data’s extensive expertise, logistics, financing and more. We have plenty of stock and offer attractive partner incentives for deals closed before June 30th. You can also be rewarded for doing business with Dicker Data this EOFY through our partnership with Qantas Business Rewards.
As your strategic advertiser we’re here to support you as part of your team, every step of the way.
To learn more about the Government incentives and how you can maximise impact for you and your customer’s business, reach out to your local Dicker Data representative, or email sales@dickerdata.com.au.
Contact sales@dickerdata.com.au for all your technology needs.
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Dicker Data (ASX: DDR) is an Australian owned and operated, ASX listed hardware distributor with over 46 years experience. Our dedicated sales and presales teams are comprised of experienced product specialists who are focused on using their in-depth knowledge to help customers tailor solutions to suit their client’s needs.
Phone: 1800 688 586
Email: sales@dickerdata.com.au