In the ever-evolving landscape of business, two significant factors stand out as drivers of success: technology adoption and continuous training. For small businesses, these aspects are not just advantageous but are vital to staying competitive and innovative. At Boutique Accounts, we understand the challenges faced by small businesses, and we are here to guide you toward growth and prosperity through the avenues of technology and training boosts. Let’s embark on this transformative journey together.
Small and medium businesses will also have access to a bonus 20% deduction that will support the uptake of digital technologies, until 30 June 2023.
The above legislation became law on 23 June 2023.
Small Business Technology Investment Boost: Embracing Innovation, Maximizing Deductions
In a world dominated by digital advancements, the Small Business Technology Investment Boost initiative by the Australian Taxation Office (ATO) comes as a welcome opportunity for small businesses. This boost offers significant deductions, encouraging businesses to invest in technology and revamp their operations for increased efficiency and productivity.
Learn more about the Small Business Technology Investment Boost
Small Business Skills and Training Boost: Investing in Your Team, Elevating Your Business
A well-trained and skilled workforce is the backbone of any successful business. The Small Business Skills and Training Boost initiative by the ATO encourages businesses to invest in their employees’ skills by providing deductions for training programs. By upskilling your team, you not only enhance their expertise but also foster a culture of learning and growth within your organization.
The Expenditure Must be:
To access the small business skills and training boost, your business needs to meet the standard aggregated annual turnover rules (with an increased $50 million threshold).
- for the provision of training to employees of your business, either in-person in Australia, or online
- charged, directly or indirectly, by a registered external training provider that is not you or an associate of yours
- already deductible for your business under taxation law
- incurred within a specified period (between 7:30 pm AEDT or by legal time in the ACT on 29 March 2022 and 30 June 2024).
- Training should be with registered training organisations
Explore the Small Business Skills and Training Boost
Why Choose Boutique Accounts?
Boutique Accounts stands apart as a trusted partner for small businesses, offering a range of services that go beyond traditional accounting. Here’s why you should choose us to harness the power of the Small Business Technology Investment Boost and the Small Business Skills and Training Boost:
Personalized Approach:
We understand that every business is unique. Our services are tailored to meet your specific needs, ensuring you maximize the benefits of the available boosts.
Expert Guidance:
Navigating the world of tax incentives and training programs can be overwhelming. Our experienced advisors provide expert guidance, simplifying the process and ensuring you make informed decisions.
End-to-End Support:
Your success is our priority. We offer comprehensive support, from initial assessment to implementation and ongoing monitoring. We keep you informed about the latest opportunities and help your business adapt and thrive.
Empower your small business with Boutique Accounts and unlock the full potential of the Small Business Technology Investment Boost and the Small Business Skills and Training Boost. Contact us today, and let’s set the stage for your business’s success.
At Boutique Accounts, Your Vision Is Our Mission. Let’s Grow Together!
Reference take from: Australian Taxation Office
