Prime Minister Scott Morrison has announced an $800 million plan as part of the upcoming Federal Budget to push businesses in adopting new digital technologies and aid in post COVID recovery.
The goal is for more business to go digital, thus expanding opportunities for growth and creating more jobs.
The Digital Identity Program will create a biometric identification system with facial recognition software. This will be used for myGov and the ATO’s myGovID.
$22.2 million will be spent on supporting small businesses take advantage of digital technologies with the expansion of the Australian Small Business Advisory Service – Digital Solutions program, a Digital Readiness Assessment tool and Digital Directors training package.
$3.6 million towards mandating the adoption of electronic invoicing by 1 July 2020 for all Commonwealth Government agencies to encourage adoption among businesses supplying to government and their supply chains.
$2.5 million will go towards connecting workers and SME’s to digital skills training.
This article is published by R J Sanderson and Associates Pty Ltd ABN 71 060 299 783. This article contains general information only and is not intended to represent specific personal advice (Accounting, taxation, financial or credit). No individual personal circumstances have been taken into consideration for the preparation of this material. It is recommended that you obtain your own personal professional advice before making any financial or business decision.