Locafy Confirms Australian Customers Eligibility for a


  • Australian customers purchasing Locafy’s local SEO products able to claim major new tax deduction.
  • 3.6 million Australian small medium businesses eligible for the recently announced Australian Federal Government initiative.
  • Locafy resellers say search result technology becoming integral part of businesses planning.

PERTH, AUSTRALIA, May 06, 2022 (GLOBE NEWSWIRE) — Locafy Limited (NASDAQ: LCFY, LCFYW) (“Locafy” or “the Company”), a globally recognized software-as-a-service technology company specializing in local search engine marketing, has confirmed Australian customers purchasing its local search engine optimization (SEO) products will be able to claim 120% of the costs as a tax deduction.

An estimated 3.6 million small businesses with annual turnover of less than A$50 million will be eligible for the new tax break announced by the Australian Federal Government.

The deduction is part of a drive to fast-track the digitisation of small business in Australia which will see every $100 they spend on eligible technologies such as Locafy’s product, result in a $120 tax deduction.

Locafy CEO & Founder Gavin Burnett said the estimated A$1 billion package, that operates through to June 2023, would act as a further incentive for businesses looking to lift their online profile.

“Australia had some of the longest Covid-19 related lockdowns globally which saw many small businesses forced to swiftly pivot to providing goods and services online. That made being found online by local customers critical. We have been seeing a continued focus and investment from small business in building their online presence through SEO and this welcome Government incentive can only further encourage that,” said Mr Burnett.

Locafy Diamond Level Reseller, Paul Teycheney from Buzzlink Digital said with many small businesses already having accounting and software packages in place, the opportunity to use the tax deduction to improve their search results was proving popular.

“I think for many small businesses search is now on the same par as a laptop or computer – not a nice to have but rather a must have. Just as accounting software has demystified an often-complex process for small business in recent years Locafy is making getting noticed online a far easier and inexpensive process.”

The number of customers using the Locafy platform has more than doubled in the last five months.

Locafy intends to formally update the market with its full year financial results to June 30, 2022, in the September quarter.

About Locafy Limited

Founded in 2009, Locafy’s (NASDAQ: LCFY, LCFYW) mission is to revolutionize the US$700 billion SEO sector. We help businesses and brands increase search engine relevance and prominence in a specific proximity using a fast, easy, and automated approach.

For more information, visit www.locafy.com

Safe Harbor Statement

This press release contains “forward-looking statements” that are subject to substantial risks and uncertainties. All statements, other than statements of historical fact, contained in this press release are forward-looking statements. Forward-looking statements contained in this press release may be identified by the use of words such as “subject to”, “believe,” “anticipate,” “plan,” “expect,” “intend,” “estimate,” “project,” “may,” “will,” “should,” “would,” “could,” “can,” the negatives thereof, variations thereon and similar expressions, or by discussions of strategy, although not all forward-looking statements contain these words. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, they do involve assumptions, risks, and uncertainties, and these expectations may prove to be incorrect. You should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company’s actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the Company’s periodic reports that are filed with the Securities and Exchange Commission and available on its website (http://www.sec.gov). All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these factors. Other than as required under the securities laws, the Company does not assume a duty to update these forward-looking statements.

Contacts

Media
Chris Fogarty
FMC Change
T: +61 420 928 924
E: chris@fmcchange.com

 

Investors
Locafy Investor Relations
Locafy Limited
E: investor@locafy.com

 

To keep updated on Locafy’s news releases and SEC filings, please subscribe to email alerts at https://investor.locafy.com/email-alerts

Locafy Limited



Source link

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More

Privacy & Cookies Policy