Expenditure on external training for employees, both in Australia and overseas, provided by a ‘registered training provider’ is eligible for the boost. The training provider must be registered with an approved government agency.

Am I eligible?

Small businesses with an aggregated annual turnover of less than $50 million are eligible.

When does it apply?

The boost will apply to eligible expenditure incurred between 29 March 2022 until 30 June 2024.

An annual cap of $100,000 will apply in each qualifying financial year. The additional 20% deduction for eligible expenditure incurred before 30 June 2022 will be claimed in the 2023 financial year. 

The individual receiving the training must be an employee of the business. Training for sole traders, partners or directors not receiving a wage from the business are not eligible.

Should you wish to discuss your business’ eligibility and how it may benefit from these boosts, please do not hesitate to contact our office on (07) 4688 8200.