Small businesses with an aggregated annual turnover of less than $50 million are eligible for the small business skills and training boost…

1. Boost Details:
   • The boost provides an additional 20% bonus tax deduction for eligible expenditure incurred on training new and existing employees.
   • You can claim this deduction for external training courses delivered to your employees, whether in person in Australia or online.
   • The training must be provided by a registered external training provider.
2. Availability and Deadline:
   • The boost is available until 30 June.
   • It’s not too late to invest in upskilling your employees!
3. Exclusions:
   • You cannot claim expenditure for training you undertake yourself as a business owner (e.g., if you’re a sole trader, partner in a partnership, or independent contractor).
   • However, you can claim the bonus deduction for the provision of training to your employees.

Remember, consulting a registered tax professional or BAS agent can provide personalized guidance for your tax matters. Further information on the boost can be found here.