If you’ve been putting off getting or upgrading your law firm website, it’s time to act. Any money you spend on upgrading your law firm’s website up until 30 June 2023 is eligible for a tax rebate of 120%. The tax benefit is part of the Government’s recently announced technology investment boost to support digital adoption by small businesses.
Let us brief you below.
Eligible Law firms Tax bonus for digital spending
The Federal Budget released in March 2022 gives law firms an opportunity to claim a 120% tax rebate to upgrade their websites. The government is encouraging small businesses to prepare for a digital economy by incentivising spending on online assets – this includes web design.
Your law firm is eligible as long as your annual turnover is less than $50 million. Any money spent from 7:30pm, 29 March 2022 until June 30, 2023, can be claimed. The amount will be capped at $100 000 a year.
In summary, if eligible, for every $100 spent on upgrading your website or other digital assets, you are eligible to deduct $120 on tax.
Why you should invest in your law firm website
If you don’t know the year your website launched, or the last item uploaded to it, we suggest that’s evidence you need to take advantage of this tax rebate. Website platforms are constantly evolving and becoming increasingly valuable to small businesses. Your website is unequivocally an essential marketing asset worthy of investment.
Points to consider when upgrading your law firm website
We suggest you examine your website’s performance by using the below questions. The questions will lead you to make an informed decision:
- Do you have access to a website performance report?
- Is your website performance report showing hardly anyone is visiting your website?
- When you Google your law firm name, does your website show on the first page of search results?
- How much content does your website have?
- How up to date is your blog?
- If you have contact forms on your site, how often are you receiving genuine client enquiries?
- Is your website slow to load its pages? Or do parts of the pages not load at all?
- Is it easy to move between website pages and find information?
- Does your website have icon links to your social media business pages?
- Can your website support high-quality photos and videos?
- Is your website mobile phone friendly?
Nowadays, it is unacceptable for a professional, reputable and responsible business to have an inadequate website offering. Doing so damages your brand, impacts your reputation and leads to loss of business. Now that the tax benefit is in place, it’s hard to argue against investing in a new website.
You need a high performing law firm website in an online economy. We encourage you to investigate if your business is eligible for the new tax benefits. Remember, the tax rebate is only until June 30, 2023.
Unsure where to start on a new law firm website?
We know where to start, and how to get results. Talk to us. We know websites, and we are here to help you. Call Rachel Brus, our National Client Success Manager, on 1300 881 811 or email [email protected].