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.
There are two parts of this package :
The first part of the stimulus package includes an instant tax write off for each asset below a $150,000 threshold that you first use or install before the 31st of December 2020. This applies to businesses with a turnover below $500 million. For a 99kW solar system, you can reduce your FY20 tax payable by an estimated $30,000 on top of additional energy savings year on year.
In the second, all assets (regardless of costs) installed before the 30th of June 2021 will benefit from accelerated depreciation deductions enabling businesses to deduct 50% of the cost upon installation. For a 250kW solar system, you can reduce your FY21 tax payable by approximately $60,000, with additional energy savings!
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.