Do you have a Website?

It maybe time to get a Website or upgrade your existing Website. 

Do you know what you can claim as a deductible business expense for your website costs?

The expense of a Website falls into 2 categories (according to the ATO Taxation Ruling TR2016/3):

1.  Revenue expenses - generally can deduct the total amount in the year the expense is incurred, these include:

• licence or subscription fees;
• monthly hosting fees;
• social media maintenance fees

2.  Capital expenses - can be deductible over a number of years or non-deductible, these include:

• products that enhance a business's profit;
• cost to develop a website;
• cost to make changes to an existing website
• cost to establish presence on social media

NOTE: Small business entities can still obtain the immediate write-off if the cost is less than $20,000.

For further detailed information, please read here or contact our office if you have any other queries.