A $1,200 rebate is now available to put towards adopting new digital technology such as cloud accounting software via the Small Business Digital Adaptation Program established by the Victorian government.
The rebate is now open and will close 28 February 2021 or once the $20 million allocated funds are exhausted.
Eligible businesses will receive a rebate of $1,200 to cover 12 months’ access to a digital product listed under the program. This rebate could be used on digital products such as business management tools, websites, e-commerce and managing finances.
A list of products available under the program has yet to be released but will be listed on the Business Victoria webpage soon. As at time of writing we can confirm that accounting software provider xero is a participant.
Eligible businesses include:
- sole traders, micro and small businesses that operate a business in Victoria
- have held an ABN since 13 September 2019 and
- are registered for GST as of 13 September 2020
- Not-for-profit entities that are registered with the Australian Charities and Not-for-Profit Commission, are also eligible for the program.
Digital products chosen need to be:
- new and not currently used by the business
- on the program’s digital product list
- cannot be a minor upgrade of an existing product
- cannot be a product that was used by the business more than one year ago that it is looking to resume using
How the program works
- Eligible businesses need to apply via the Business Victoria Small Business Digital Adaptation Program webpage.
- Once registered you will gain access to a one month free trial of the registered digital product of your choice as well as various free training and workshops to help you adopt the new online tools.
- Once the trial period is over or once you are ready you can sign up for the paid subscription then you will be able to apply for a rebate of $1,200 to continue access to the product for 12 months.
- You will only receive one rebate but this can be used across a number of subscriptions.
- The Victorian government will reimburse you within ten working days of receiving confirmation of your purchase.
For further information about the rebate visit business.vic.gov.au or phone the Business Victoria hotline at 13 22 15.
How can Watts Price Accountants / Knights Accounting help?
If you are considering moving to a cloud based accounting software package please discuss with us if this is appropriate for you prior. We can also assist with setup (most accounting packages will need at least a Chart of Accounts setup) and one-on-one training.
Watts Price Accountants
Ph: 03 5382 3001
Ph: 03 5385 5330