The Small business technology investment boost

To support the uptake of digital technology, eligible small businesses can claim an extra 20% tax deduction. This is to help businesses grow by investing in digital operations. Remember – to claim the boost for a depreciating asset, you must have had it installed by 30 June 2023.

The Small business skills and training boost

Eligible small businesses can also claim an extra 20% deduction to help cover the cost of training employees. You can claim deductions for external training courses taken by both new and existing employees, either in person or online. So long as the course is delivered in Australia, by providers registered in Australia.

For all the info you need on claiming the bonus deductions in your tax return, visit the ATO Community website.