Pinnacle Safety and Training Blog

Invest in training to maximise your tax return

One powerful yet often overlooked incentive is the Small Business Skills and Training Boost, which offers a generous 20% bonus tax deduction on eligible employee training expenses.

What is the Small Business Skills and Training Boost?

This government initiative is designed to encourage small businesses to invest in the skills development of their employees.

If your company has an aggregated annual turnover of less than $50 million, you can take advantage of an additional 20% tax deduction for external training courses provided by registered training providers like Pinnacle Safety and Training (RTO40496).

This boost applies to eligible training expenses incurred from 29 March 2022 until 30 June 2024.

Why Act Now?

With the end of the financial year fast approaching, now is the perfect time to book training for your employees to ensure you can claim this valuable deduction. Investing in employee training not only enhances your team’s skills but boosts productivity whist earning a few brownie points with your Finance Manager.

What Training Expenses Can You Claim?

To qualify for the Small Business Skills and Training Boost, your training expenses must meet specific criteria:

  • External Training Courses: The courses must be delivered by registered training providers like Pinnacle. Whether it’s a first aid refresher, working at heights, ICAM or a Certificate IV in Workplace Health and Safety, you could be eligible.
  • Employee-Focused: The training must be for the benefit of your employees.
  • Incidental Costs: You can also claim incidental costs related to the provision of training, such as the cost of equipment needed for the course.

How do I Claim the Deduction?

For specifics, visit the Small Business Skills Training Boost website.

Why Choose Pinnacle?

At Pinnacle, we offer a wide range of training programs designed to meet the needs of businesses. Our courses are delivered by experienced professionals and tailored to enhance your team’s skills and productivity.

Act now to maximise your tax savings and equip your team with the skills to thrive.

Contact Pinnacle today and book your training courses before the EOFY deadline!

I really respect the way your RTO goes about training. This was my second course. I’m still doing another two courses with Pinnacle and also considering a Cert 3 in Mine Rescue in Brisbane after those. I think the professionalism of your team will definitely prepare me for a variety of roles in the future. I am very confident the skills I have learned at Pinnacle are industry best practices and of the highest level.

Gary L. - Melbourne, VIC

Public Course Participant Operate Breathing Apparatus