NCS Advice to Clients
Uncertainty Around Budget Measures
We recognise uncertainty clouds small Australian businesses at the moment, as they’re left questioning key budget investment incentives.
The Skills and Training Boost and Technology Investment Boost has been announced for eligible expenditure incurred, however there is far too much doubt for small businesses to spend.
According to the recently released budget papers, businesses have been told that 120 per cent deductions will be claimable by businesses for spending on external training courses for staff or technology investment that supports digital adoption. Businesses with less than $50 million turnover are eligible for the deductions, with an annual cap of $100,000 on the technology investment.
What has been made clear though, is that there simply isn’t enough detail around what digital products were included and also about which training course providers would qualify.
In light of this uncertainty, we encourage our NCS clients and friends to hold off on spending until we are able to gain further clarity on the matter.