Business push for cloud computing to be tax deductible
May 3, 2021 â 6.21pm
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Westpac chief executive Peter Kingâs push into cloud computing is setting up a debate over what government should allow businesses to depreciate in order to move faster into the digital economy.
âCloud has a massive role to play in the future,â Mr King said.
Westpac CEO Peter King says cloud computing is essential. Â
Dominic Lorrimer
Capital investment in software, which is considered an intangible asset that can be depreciated, rose to $4.6 billion in the December quarter, up for the third quarter in a row according to the Australian Bureau of Statistics.