New skills and training tax deduction

At last night’s 2022-23 Federal Budget announcement, the Government announced the ‘Skills and Training Boost.’

Under the new measures, small businesses will be able to claim a bonus 20 per cent tax deduction for the cost of external training courses delivered to employees in Australia or online, by providers registered in Australia.

This means that for every $100 you spend on training, you can get a $120 tax deduction.

What’s more, if you pay for these courses between now and 30 June 2022 you can claim this additional amount in the next financial year.

This makes for a great incentive to continue to upskill your team, and no need to wait until July as you can reap the benefits now.

Book your team’s next course today, or talk to us about your needs: on 08 9379 9999 or at [email protected]

The boost will apply to from now until 30 June 2024; find out more, including all T&Cs and eligibility on the Australian Government Budget website: www.budget.gov.au