Man and woman managing business at the cafe or small shop

Federal Budget delivers training boost for small business

Published: March 31, 2022
Man and woman managing business at the cafe or small shop

This year’s Federal Budget has recognised the importance of small to medium enterprises training and upskilling their employees. As part of his 2022/23 Budget speech, Treasurer Josh Frydenberg announced the Skills and Training Boost, which aims to make small businesses “become more productive and competitive.”

The initiative will allow businesses with an annual turnover of less than $50 million (an estimated 3.6 million businesses, employing 7.8 million Australians) to claim an additional 20 percent deduction on external training costs. This means that for every $100 SMEs spend on training their employees, they can claim a tax deduction of $120. Mr Frydenberg said, “No one knows better than a small business owner what skills they need in their employees.” 

The scheme aims to drive future growth and productivity in small to medium businesses and attract and retain staff in our currently tight labour market.

To qualify, the training must be provided to employees in Australia or online and delivered by entities registered in Australia. There is no limit on the amount that small businesses can deduct, and the program runs until 30 June 2024. 


Back to Insights

“Excellent trainers with high level expertise, varied content to keep us engaged and quality resources leave me with confidence that I could implement what I’ve learned.”

“The presenters really helped to link the course material to real life situations. They were very professional and helped make the course very enjoyable.”

“Thoroughly enjoyable learning experience, facilitated to an excellent standard – Well adapted to the diversity of skill within the group.”

Fantastic course professionally run by a ‘real’ auditor working in the field which allowed for a fantastic bridge between theory and practical examples.

“It is rare to find a trainer with extensive practical and current industry knowledge of the topic. This is a real world training course for real world application. 100% recommend Pat to conduct any training in future.”

Need help finding a course?

Speak directly with a member of the RTP team to decide which course is right for you.