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Get a 100% tax deduction for energy efficiency upgrade

Australian small and medium businesses:
Invest up to $20,000 n renewable energy and energy efficiency equipment, in the next five months, to get a 100% tax deduction.

Introduced in the 2015 Commonwealth budget and retained in the 2016 budget, is 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 investment 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’ isdefined 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.

Written by

Geoff is the founder and managing director of Genesis Now, and winner of the 2013 Energy Efficiency Champion award (Energy Efficiency Council).