Small Business Skills and Training Boost

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.