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 boost applies to eligible expenditures incurred from 7:30 pm on Tuesday 29 March 2022 until Sunday 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. MORE HERE.