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Technology and Skills and Training Boost (Budget)

Posted on May 5, 2022 by Roslyn Little

For every $100 a small business (with aggregated turnover of less than $50 million) spends on digital technologies will receive a $120 tax deduction.  The boost will apply to eligible expenditure incurred from 29 March 2022 to 30 June 2022.  There is also a similar skills and training boost.  This is not currently law but has bi-partisan support.  Time to talk to your accountant for details.  Better sooner than later in case you miss out.