To stem the tide of the current workforce shortage in many industries, the government has proposed a new temporary initiative that gives small businesses access to a bonus tax deduction equal to 20% of certain employee training expenditure. It will apply to eligible training expenditure incurred with registered external training providers between 29 March 2022 and 30 June 2024. This proposal is cu rrently in the draft stage and is undergoing consultation and as such will not be available until the measure becomes law.
Click to read our article: Bonus deduction for employee training proposal. (1.0 MB PDF)