![]() ![]() Providing payments of up to $5,000 to new apprentices and trainees.Subsidising the wages of eligible apprentices and trainees. ![]() There will be an overhaul to the Apprenticeship Incentive Scheme aimed at increasing the number of qualified tradespeople. ![]() Skills and training for apprentices and trainees This will also be valid from 29 March 2022 to 30 June 2023. Business technology boostīusinesses incurring expenses for digital technologies with an annual turnover of less than $50 million will be eligible to deduct an additional 20 per cent of expenditure up to $100,000. This will be valid from 29 March 2022 to 30 June 2023. Business skills boostīusinesses with an aggregated turnover of less than $50 million can deduct external training courses for their employees for up to 20 per cent of the expenditure incurred. The 2022/2023 Federal Budget saw a focus on boosting investment in skills and new technologies for small businesses. Tax deductible COVID-19 testįrom 1 July 2021, individuals who were or are required to take a COVID-19 test to attend work will be able to claim that cost through their next tax return. There will also be an additional 10,000 places for individuals buying their homes in regional areas. The 2022/2023 Federal Budget saw the cap on this scheme increase from 10,000 places to 35,000 places per year. The first home buyers scheme helps individuals who don’t have the standard 20 per cent deposit required to secure a home loan. This means that individuals with an annual income of less than $126,000 will have lower amounts payable and larger refunds when lodging their 2022 tax returns. With the 2022/2023 Federal Budget a one-off cost-of-living tax offset of $420 will be offered to low and middle-income earners. These payments will be made throughout April 2022 and will be available to the following individuals: They estimate this will result in savings of up to 22.1 cents per litre.Ī one-off $250 Cost of Living Payment will be available for individuals receiving certain Centrelink benefits. Compensation for inflationĭue to the increasing cost of living, the Federal Government has cut the Fuel Excise in half for six months to alleviate the increase in petrol costs our economy currently faces. In the 2022/2023 Federal Budget, eligible individuals may see a reduction in their tax payable as well as compensation for increasing costs of living. ![]()
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