The Federal Government’s Stimulus Package
How it works
In a period of uncertainty, we understand (more than ever) the need to save money and resources. The federal government has announced a stimulus package consisting of an instant or accelerated asset tax write off to help your company save money and keep your business prepared for a very uncertain future.
As of the 8th of October, most businesses with a turnover of up to $5 billion will be able to instantly write-off new assets purchased if installed and operational by 30th June 2022*. So, on top of energy savings year on year from a new solar system, please see examples of additional benefits below, using either cash or finance, that contribute to significantly reducing payback periods:
a. A new 99kW solar PV system paid with cash up front, can reduce your FY20 or FY21 tax payable by up to $30,000*.
b. A new 99kW solar PV system under a fully funded chattel mortgage or EUF will reduce your FY20 or FY21 tax payable and GST refund up to $38,000^.
Combined with the federal government’s incentives for solar (STCs or LGCs), the state government’s incentive for LED upgrades (VEECs and ESCs) and distributor incentives (Ausgrid’s Power2U), you can be energy efficient for the lowest it has ever been!
You can also stay cash-flow positive from day one with no money upfront through our finance options such as chattel mortgage or an Environmental Upgrade Finance.
Talk to us today for a complimentary and no-obligation feasibility study for your site or to discuss your energy efficiency options. We hope you stay safe and look forward to helping you take control of energy costs and safeguard your business.
*Subject to terms and conditions. Please speak to your financial advisor or accountant regarding the above information.
Speak to an Incentives Expert
Cherry are experts in incentives and can help you get the most out of the current government subsidies to reduce your energy costs. All information is tailored to your business needs and what you want to achieve.