The national $20,000 tax break scheme for small businesses was recently extended for another year. This is great news for Australian businesses across all industries. The scheme, is an instant asset-write off, enabling small businesses to write off up to $20,000 for tax purposes on business-related expenses. While this can bring tremendous benefits for a business, many business owners aren’t certain of what it can be used for, or may not even know it exists at all.
If you’re wondering how this $20,000 tax break could be used to your advantage, we’d love to let you know that you could put it towards a brand new website. The scheme covers certain depreciable business assets, and your website qualifies. Could this be the best possible use of your tax break?
Why a Website is a Vital Business Investment
Moving forward with technology is always a smart step in business. This keeps you at the forefront of your industry. For so many reasons, the $20,000 tax break should be applied to something that brings you to the next level technologically. For some businesses, this might mean investing in new computers for the office, or for a more advanced piece of manufacturing equipment. But for many organisations, a simple website can make an incredible difference to overall growth, sales, and profits.
A website is your online calling card, and if you don’t have one, you’re assuredly missing out on a great deal of potential business. Consumers today use the Internet as their #1 method for finding products and services—especially for local businesses. If you don’t have an online presence, you’re losing an invaluable foothold, and your competitors are gaining ground.
And in 2017, you don’t just need a website, you need a well-designed site that functions flawlessly. Customer expectations are high and you need to deliver to stay relevant and competitive. Putting your $20,000 tax write-off towards a new website could make a major difference for your company.
Do You Need a New Site?
Perhaps, like a majority of businesses in Australia, you’ve already got a website up and running. In this situation, your consideration may be whether or not it’s time to put funds toward a redesign/revamping. Here are a few questions to ask when deciding if a fresh design is imperative:
Is my site mobile-friendly?
Most consumers are now accessing the web via mobile. Sites which are optimised for mobile devices not only are more likely to keep your customers reading, they even rank better in Google.
Does my site load in less than 3 seconds?
Statistics show that consumers are likely to leave (and never return to) sites that don’t fully load within 3 seconds. You might not need an entirely new website, but it may be high time for an upgrade.
Does my site match my brand?
It’s important to have a visually appealing web design: sleek, easy to navigate, and pleasing to look at. Today’s design trends lean toward simplified, minimalistic looks. But it’s important, too, that your site tells a story. If your website is not aligned with your brand image, it is definitely time to get those two pieces in sync.
Should You Use Your Tax Break?
The tax break is an excellent opportunity, but only you can decide if and how you’ll use it for your business. The $20,000 write-off could save you money, but it only makes sense to take advantage of it if you’re planning to spend/invest the funds into your business anyway. However, for those ready to put money towards growth, there is no denying this opportunity is exceptional.
If you’re planning on using your tax break to invest in web design, give us a call to discuss your options.