Government Assistance for Technology Projects

The budget had some potentially good news for ERP vendors and for those businesses with a turnover up to $50 million looking to replace technology within their business. The Government has provided an additional 20% deduction on external training. That’s a deduction of $120 for every $100 spent.

There is also an additional 20% available on cloud services implemented before June 30, 2023, as shown in the article from The Australian Financial Review below.

There is a huge caveat I feel you should consider. While these concessions are attractive they should never form the basis of why you make a decision to undertake a technology implementation project. You need to have a solid business case why you are doing this before you consider the tax advantages. I have a whole chapter in my book dedicated to the importance of your “Why”.

Why are you looking to change your system is THE most important consideration. I have seen so many failures and ultimately, they have one thing in common – the wrong reason why.

If you need to have an independent person discuss your current situation and what your ‘why’ might be, reach out to me for a confidential conversation. Independence is critical here.

© David Ogilvie