Digital Games Tax Offset
The Digital Games Tax Offset (DGTO) provides eligible game developers a 30% refundable tax offset for qualifying Australian development expenditures from 1 July 2022.
It will be available for completion, ongoing development, or porting of digital games, subject to the following:
- eligibility criteria set out in Division 378 of the Income Tax Assessment Act 1997, including certification by the Arts Minister
- at least $500,000 of qualifying expenditure.
The offset is capped at $20 million per company (or group of connected or affiliated companies) per income year. Reaching this cap would require approximately $66.7 million in eligible expenditure.
Applicants must be companies that are either:
- Australian tax residents, or
- foreign tax residents with a permanent establishment in Australia.
Similar posts you may like
- 8000 years of tax
Taxation has existed for over 8,000 years. Mesopotamia, a historical region covering the Tigris–Euphrates river system, introduced a Bala tax in 6,000 BC. The Read more
- Legal vs Illegal Tax Saving Strategies
Paying our legal taxes is a small price to pay for the benefits we enjoy in a privileged, prosperous, and safe society such as Read more
- Electric vehicle home charging expenses
The ATO has introduced a 4.20 cents per km rate for home-charging electric vehicles (EV). The rate is multiplied by the number of kilometres Read more
- How to make a business more saleable and attractive to buyers
Strong financial performance: Buyers are typically interested in businesses with consistent and healthy financial performance. Market opportunity: Buyers look for potential for future growth Read more
"You’d be stupid not to try to cut your tax bill and those that don’t are stupid in business"
- Bono: U2