An employer may receive a future exemption from fringe benefits tax when providing employees with retraining or reskilling opportunities. This 2020 federal budget announcement will take affect from 2 October 2020, subject to the passing of legislation.

FBT exemption for retraining and reskilling proposed

The government has also released a consultation paper with respect to possible changes to the self-education deduction section for individual taxpayers.

These measures may provide a tax incentive for employees to change careers, in particular if they are about to be made redundant.