Commonwealth 2015 budget filip for energy efficiency and renewable energy in small business

Australian Commonwealth 2015 budget, energy efficiency, and renewable energy.

The Commonwealth 2015 budget introduces an immediate tax deduction for small businesses for every asset purchased costing less than $20,000, ending in June 2017.

So energy efficiency improvements, each costing under $20,000 will be able to be expensed, for tax purposes.
And many energy efficiency projects in small business typically require less than $20,000  or less than $20,000 per asset.
For example, it could include a $15,000 lighting upgrade, a $10,000 controls upgrade,  and a $10,000 investement in insulation.

Similarly, an investment of $20,000 in renewable energy could buy a 15 kW solar power system or a 3 – 5 kW wind turbine (costs net of renewable energy certificates).

‘Small business’ is likely to be defined as a business with a turnover of under $M2 / year.

To discuss this opportunity to invest in reducing your organisation’s energy costs (tax effectively) please phone Genesis Now.