The Morrison Government is set to invest almost $1.2 billion in Australia’s digital future through the Digital Economy Strategy announced today. The Prime Minister made a statement on how “Every business in Australia is now a digital business.”

The investment includes incentives to support business growth, including a Digital Games Tax Offset of 30 per cent to support developers across the country.

With Australia looking to take a greater share of the $250 billion global game development market, It also seeks to change the way Aussie businesses can claim depreciation of intangible assets like intellectual property and in-house software.

The announcement will also seek to strengthen safety, security and trust within our growing digital networks. To protect the digital economy and secure Australia’s economic future and recovery from COVID-19.

The Digital Economy Strategy targets investments that will underpin improvements in jobs, productivity and make Australia’s economy more resilient.

Read more here: https://www.pm.gov.au/media/modern-digital-economy-secure-australias-future