Software and Training Tax Deductions for Small Business Owners

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Business Station

Software and Training Tax Deductions for Small Business Owners

If you’re a small business you’re eligible for the Small Business Technology Investment Boost and the Small Business Skills and Training Boost. Proposed by the Australian Government as part of the 2022-23 Budget, these tax deductions help small businesses to become stronger competitors in the digital economy. 

The Technology Investment Boost allows small businesses to access an additional 20% tax deduction (that’s 120% total) for digital technology related expenses such as systems and software, and depreciating assets such as laptops and portable payment devices. Find out where you should invest by speaking to one of our Digital Solutions advisors during a free 15-minute consultation. Visit an advisor profile and click the ‘Book a Free 15 Min Consultation’ button to schedule a time and day that works for you.

The Skills and Training Boost provides an additional 20% tax deduction on the cost of external training courses for your employees. For example, for every $100 you spend on employee training, you’ll be eligible to claim $120 as a tax deduction. Speak to our RTO Manager Peter ([email protected] or (08) 9396 1959) to find out if you’re eligible, or view our list of accredited training.

All training and software investments from Tuesday 29th March onwards are eligible for the bonuses which will be applied in the 2022-23 financial year.

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