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In response to the Coronavirus (COVID-19) pandemic, the Australian government announced a sweeping list of benefits for Australian businesses including raising the Instant Asset Tax Write-Off to an unprecedented amount.

For businesses looking to sustainable solutions to keep their operational costs down, this tax break offers a unique opportunity to invest in an asset that manages those costs through periods of uncertainty and beyond.

Key highlights from the Federal Government's stimulus package include:

  • The Instant asset write-off has been raised to an unlimited amount for purchases made after Tuesday 6 October 2020
  • This means businesses can now write-off the full cost of a commercial solar system and is not limited to one purchase
  • In order to receive full benefit, solar systems must be installed and operating by June 30, 2023 per the Federal Government's budget announcement in May 2021.
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What kind of tax savings could my business expect?

According to the government, the revised tax write-off opens up numerous options for businesses including making investing in renewable energy solutions more financially beneficial for businesses.

For a $100,000 cap-ex system solution, this is a tax saving of $25,000.

Make the switch without reducing your cashflow.

In the current climate you may feel less willing to invest in solar - Don't worry, we believe the way forward is financing solar systems, so that the system is paid for with little to no upfront investment.

How does this work?

By accessing funding for solar our aim is to work with you to put together a solar solution where the savings your system generates on your electricity bill is more than the repayments, so your business will be benefiting as soon as you can.

This benefit is a game changer. But there is a limited window to act.

It can take several months to receive grid approval from the energy distributor, so we encourage all businesses to get in touch as early as possible to take up this opportunity.

Claim your free solar assessment now!

The Choice Energy difference

Choice Energy is an energy firm dedicated to helping businesses by reducing their operational costs optimising their energy charges through a range of solutions and services.

As a champion for Australian business, we create bespoke solar solutions with a focus on reducing your energy costs with minimal to no impact on cash flow. We do this by providing a solution that utilises the savings from energy bills (post solar) coupled with government funding.

For more information, please visit business.gov.au:

NOTE: The information provided on this website is general in nature only and does not constitute personal or commercial financial or taxation advice. The information has been prepared based on our interpretation of the IAWO program and has not taken into consideration your personal or business objectives, financial situations or needs. Before acting on any information on this website, or others, you should consider the appropriateness of the information with regard to your personal or business objectives, financial situations or needs. Speak to your Accountant, Tax Advisor or the Australian Tax Office for any questions you may have with regard to the application of the Instant Asset Write Off for your business.

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