The 120% deduction for expenditure on skills training and technology costs
It’s a great headline isn’t it? Spend $100 and get a $120 tax deduction. Days after the Federal Budget announcement that businesses will be able to claim a 120% deduction for expenditure on training and technology costs, we started receiving marketing emails encouraging us to spend now to access the deduction. There are a few problems with the headline announcement. Firstly, the announcement is just that, it is not yet law. And, we do not
June 7, 2022