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Boosting Small Business: Technology Investment and Skills Training Deductions

Hello Allotrac community! We have some exciting news for small businesses. The technology investment boost and the skills and training boost, which were announced as part of the 2022-23 Budget, were made law in June. Here's everything you need to know.

Small Business Technology Investment Boost

Who's eligible?

Small businesses with an aggregated annual turnover of less than $50 million.

What's the benefit?

These businesses can now deduct an additional 20% for expenses related to digitising their operations. This includes expenses on business operations and depreciating assets like portable payment devices, cybersecurity systems, and cloud-based service subscriptions.

Is there a cap?

Yes, there's an annual $100,000 cap on expenditure for each qualifying income year. However, businesses can still deduct expenditure over this cap under the existing law.

Validity period:

This boost is applicable for expenditure incurred from 30 March 2022 to 30 June 2023. To claim the boost for a depreciating asset, it must be first used or installed and ready for use by 30 June 2023.

Small Business Skills and Training Boost

Who's eligible?

Again, small businesses with an aggregated annual turnover of less than $50 million.

What's the benefit?

These businesses can deduct an additional 20% of expenditure for providing eligible external training courses to their employees by registered providers in Australia.

Validity period:

This boost applies to expenditure from 30 March 2022 until 30 June 2024.

How to Claim These Boosts:

If you're wondering how and when to claim these boosts, we've got you covered. For detailed information on how to claim the:

For those who love to delve deeper you can read the whole budget paper here:


How Allotrac Fits into the Picture

Small businesses who joined Allotrac during the validity period may be able to utilise the technology investment boost. Having invested in our platform allowed these businesses to streamline operations, enhance logistics management, and optimise their supply chain. By taking advantage of the 20% additional deduction, businesses can make a cost-effective transition to digitisation with Allotrac. Many of our customers and those in the transport and logistics industry will need to keep up with safety compliance and we believe now is a good time to take advantage of the 20% deduction and invest in eligible training courses by registered providers in Australia.

Remember, these boosts are a golden opportunity. Investing in technology and skills training can set the foundation for sustainable growth and success in the coming years. Don't miss out!

We recommend reaching out to your accountant for best financial advice relating to this subject.


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