SMEs to gain new government tax incentives
The Albanese government has announced the delivery of $1.5 billion in new tax incentives for small- to medium-sized businesses.
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The Albanese government has announced the delivery of $1.5 billion in new tax incentives for small- to medium-sized businesses.
The omnibus bill giving effect to $1.55 billion in small business tax breaks has been agreed to in the Upper House, with amendments.
Businesses cannot claim bonus tax deductions under the Technology Boost and Skills and Training Boost until they become law, the ATO says.
Legislation enacting the $1 billion Technology Investment Boost remains before the Senate ahead of a key June 30 deadline.
'Bonus' tax deductions incentivising small businesses to invest in digital upgrades and staff training in 2022 are yet to be passed into law.