The digital games and interactive entertainment sector is
the largest creative sector in the world and one of the fastest growing industries worldwide.
The global digital games industry is worth around $250 billion and in Australia, grew 22% between 2020 and 2021
generating $226.5 million in income and employing over 1,300 fulltime workers. And, it’s an industry the Government wants to support
with a new tax offset.
The Digital Games Tax Offset is equal to 30% of the company’s total qualifying Australian development expenditure incurred from 1 July
2022. Companies can claim up to $20 million per company (or group of companies) per year (to reach the cap a company would need to spend
around $66.7 million in eligible expenditure).
Globally, a 40% tax offset is standard for this industry so
the tax offset brings Australia back into a competitive
position.
Give us a call if you'd like help understanding what this means for you and your business.
We often hear from clients “I often forget to send invoice reminders or statements and invoices are falling through the cracks, can Xero help with this?” Easy, of course it can!
It's time to celebrate! SMART Business Solutions are pleased to share with our clients some exciting news. The Finalists in the Australian Accounting Awards have been announced with the team being successful finalists in the following categories
- Best Marketing (you know we always try to be different!) Shannon was also interviewed http://www.accountantsdaily.com.au/breaking-news/8605-accountants-must-touch-their-clients-12-times-a-year
- Accounting Student - Well done Hayden!
- Office Administrator - Awesome effort Nicole!
- Partner of the Year - Shannon Smit for both Transfer Pricing Solutions & SMART Business Solutions
Quality Matters – Independent review with outstanding results for SMART Business Solutions
Paying an accountant to handle all of your financial reporting can be expensive, but if you have several different sources and deductions or if you own a small business, it can be worth it.
Is your business thriving, but you struggle to maintain positive cash flow?
Don’t let it crumble from underneath you
It’s nearly BAS time again - tips to make BAS processing easier
BAS time seems to come around quicker and quicker! Here are some tips to try and make it a little easier!
With June 30 quickly approaching we are pleased to provide our year end checklists and questionnaires to help you get organised.
Tax planning is more than just a financial necessity—it's a strategic advantage for businesses of all sizes. By proactively managing your tax strategy, you can significantly reduce your liabilities, enhance cash flow, and ensure full compliance with ever-evolving tax regulations.