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roxmully's avatar
roxmully
User
9 days ago

Technology Boost

Hi all,

 

I'm entitled to claim the technology boost with my tax and was hoping someone could help with advice on how to enter the transaction for the Boost amount in MYOB, I understand one part is the expense but what's the other side of the entry?

 

I'm also not sure if its a pre tax deduction to reduce taxable income or if its a post tax bonus to reduce what you actually pay to the ATO somewhat like the cashflow boost we received in covid time.

 

Cheers

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  • Shella_A's avatar
    Shella_A
    MYOB Moderator
    5 days ago

    Hi roxmully

     

    The technology investment boost is indeed a great opportunity for businesses to claim additional tax bonuses. However, as for how to enter the transaction for the boost amount in MYOB, it's best to consult with a tax professional or an accountant to ensure it's done correctly. They can guide you, whether it's a pre-tax deduction or a post-tax bonus. Let me know if you have other queries!

     

     

    Kind regards,

    Shella

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