Do you have a small business and would like to increase your taxable deductions by 20% in the 2023-24 financial year? 

If your business has an annual turnover of less than $50 million, you can be eligible to claim an additional 20% bonus deduction, on top of your 100% training expenditure, for certain external training courses for your employees. 

Who’s eligible for this boost: 

The boost is only accessible for non-for-profit organisations and small businesses in Australia with an annual turnover of less than $50 million and the training expenses incurred must be: 

  • Provided to your business employees in-person or online. 
  • Paid to a registered external training provider.
  • Incurred between 29 March 2022 – 30 June 2024 

What you can claim: 

First, the training must be done by a registered provider. You can find registered provider here: 

Any incidental costs related to providing the training such as cost of books & equipment needed, can be claimed in addition to the training cost. 

If your business is registered for GST, you can claim GST for the training expenses and any additional incidentals. The bonus deduction of 20% will be calculated on the GST exclusive amount.  

What you cannot claim:

You cannot claim the training bonus deduction if:

  • The training is provided to non-employed business owners such as sole traders, partners in partnership, directors, or independent contractors.
  • The training is provided by an associate or small business related to your business such as a relative, spouse, partner or related entity of your business. 
  • There are any additional costs added to the training invoice, such as commissions or fees.

When can you claim the bonus deduction: 

The bonus deduction of 20% can be claimed in the year it has been incurred and will be taken up when lodging your tax return. 

If you have incurred an eligible training expenditure in the 2022-23 financial year and not claimed the boost, you can claim it in the 2023-24 financial year. 

How to claim it: 

The boost will be claimed by your accountant in your yearly tax return. 




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