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If you are a primary producer, you may be entitled to claim an immediate deduction for capital expenses incurred on fencing and fodder storage assets.

Your deduction is limited to the capital expenses you incur for:

• construction
• manufacture
• installation
• acquisition.

The expense must have been incurred primarily and principally for use in a primary production business conducted on land in Australia.

Small businesses with an aggregated annual turnover of less than $50 million will be allowed an additional 20% tax deduction for external training courses delivered to employees by registered training providers.

The expenditure must be:

• for the provision of training to employees of your business, either in-person in Australia, or online
• charged, directly or indirectly, by a registered external training provider that is not you or an associate of yours
• already deductible for your business under taxation law
• incurred within a specified period (between 7:30 pm AEDT or by legal time in the ACT on 29 March 2022 and 30 June 2024).

The bonus deduction is available for expenditure for the provision of training to one or more employees of your business. The training provider must meet certain registration criteria for the bonus deduction.

Small businesses with an aggregated annual turnover of less than $50 million will be allowed an additional 20% tax deduction to support their digital operations and digitise their operations.

The boost applies to eligible expenditure incurred between 7:30 pm AEDT on 29 March 2022 and 30 June 2023. The boost is for business expenses and depreciating assets and is capped at $100,000 of expenditure per income year. You can receive a maximum bonus deduction of $20,000 per income year.

To access the small business technology investment boost, your business needs to meet the standard aggregated annual turnover rules (with an increased $50 million threshold).

The expenditure must:

• already be deductible for your business under taxation law
• be incurred between 7:30 pm AEDT 29 March 2022 and 30 June 2023.

If the expenditure is on a depreciating asset, the asset must be first used or installed ready for use for a taxable purpose by 30 June 2023.

Eligible expenditure may include, but is not limited to, business expenditure on:

• digital enabling items – computer and telecommunications hardware and equipment, software, internet costs, systems and services that form and facilitate the use of computer networks
• digital media and marketing – audio and visual content that can be created, accessed, stored or viewed on digital devices, including web page design
• e-commerce – goods or services supporting digitally ordered or platform-enabled online transactions, portable payment devices, digital inventory management, subscriptions to cloud-based services and advice on digital operations or digitising operations, such as advice about digital tools to support business continuity and growth
• cyber security – cyber security systems, backup management and monitoring services.

If you’re an employee who works from home, you may be able to claim a deduction for expenses relating to that work to cover:

• Running Expenses
• Occupancy Expenses
• Phone and Internet Expenses

Please note that this information is general in nature only, and may not apply to your individual situation.

This 'shortcut method' is available for the 1st of March 2020 to 30 June 2021 only.

The ATO are also offering tailored support for your needs and circumstances on a case-by-case basis. They do not apply these additional relief options automatically, so you need to contact the ATO. Assistance includes:

• Payment deferrals
• Changing your GST reporting cycle
• Vary pay as you go instalments
• Remitting interest and penalties
• Low interest payment plans