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New measures for small businesses

Check if your business is eligible for these new measures.

Published 12 July 2024

Claim a deduction for the cost of external training

Available to small businesses with an aggregated annual turnover of less than $50 million and offers an additional 20% tax deduction to train new and existing employees.

If you’re eligible, you can claim a deduction for the cost of external training courses delivered to employees in person in Australia, or online but the providers need to be registered in Australia.

For more information see small business skills and training boost.

Claim a bonus deduction on expenditure to improve energy efficiency

Available to businesses with an aggregated annual turnover of less than $50 million. If you’re eligible, you can claim a bonus 20% tax deduction on new assets, or improvements to existing assets, that support more efficient energy use.

For more information see small business energy incentive.

Claim a deduction on the cost of eligible assets

Available to businesses with an aggregated annual turnover of less than $10 million. If you’re eligible, you may be able to deduct the full cost of eligible assets which cost less than $20,000.

Eligible assets must be first used or installed ready for use, between 1 July 2023 and 30 June 2024. The $20,000 threshold will apply on a per asset basis, so you can instantly write off multiple assets.

For more information see instant asset write-off for eligible businesses.

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