The 120% skills and training, and technology costs deduction for small and medium business have passed
Parliament. We’ll show you how to take maximise your deductions.
Almost a year after the 2022-23 Federal Budget announcement, the 120% tax deduction for expenditure by small and medium businesses (SME) on technology, or skills and training for their staff, is finally law.
But there are a few complexities in the timing - to utilise the technology investment boost, you had to of purchased the technology and
when it comes to acquiring eligible assets, installed it ready for use by 30 June 2023; that’s just seven days from the date the
legislation passed Parliament.
We provide strategic business and tax advisory, underpinned by our expertise in financial planning to ensure we develop financial structures that are smart and well considered.
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