Eagle Eye Networks, the globally renowned company in cloud video surveillance and artificial intelligence (AI), has announced its cloud video surveillance technology will be eligible for the Technology Investment Boost – a 20% tax deduction for small businesses that invest in digital technologies, including cloud video surveillance.
Technology Investment Boost
The Technology Investment Boost was introduced to the Parliament, in March 2022
Designed to encourage Australian businesses to embrace the digital revolution, by investing in new technologies, the Technology Investment Boost was introduced to the Parliament, in March 2022.
Small businesses with less than US$ 50 million in revenues can receive a US$ 120 tax deduction for every US$ 100 spent on digital technologies, such as cloud computing and cyber security, up to an annual cap of US$ 100,000.
Businesses investing in cloud video surveillance
Australian businesses that invest in cloud video surveillance between March 29, 2022 and June 30, 2022 can claim the expenditure as usual in their 2021–22 tax returns and claim the additional 20% bonus deduction for this period in their 2022–23 tax returns.
Businesses that invest in cloud video surveillance from July 1, 2022 until June 30, 2023 can deduct the entire 120% in their 2022–23 tax returns.
Tax breaks for enterprises
Dean Drako, the Chief Executive Officer (CEO) of Eagle Eye Networks, said “This is a tremendous opportunity for small businesses to take advantage of the security, cyber security, and business optimization benefits of cloud video surveillance and receive a generous tax break from the Boost program.”
Dean Drako adds, “We want to make it even easier for business leaders to make technology investments today that will pay dividends for years to come.”
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- Network / IP
- Digital video surveillance
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- IP video surveillance
- Electronic security systems
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- Security policy
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- Network Video Recorders
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- Security Assessments
- Cloud security
- Artificial intelligence (AI)
- Video surveillance
- Machine Learning
