Small businesses with turnovers under $50M are entitled to an extra 20% tax deduction on investments in training spending – Any expenses for external training courses delivered to employees by registered training provider are eligible, if spent from 29/3/2022 to 30/6/2024 tax years. There are some restrictions, such as training non employee business owners and sole traders. Be sure to claim this in the 2023 tax returns onwards. See ATO for more or contact me. Tax savings can be significant.
