{"id":24545,"date":"2018-09-26T06:29:06","date_gmt":"2018-09-25T19:59:06","guid":{"rendered":"https:\/\/www.solarquotes.com.au\/blog\/?p=24545"},"modified":"2018-09-26T06:29:06","modified_gmt":"2018-09-25T19:59:06","slug":"commercial-solar-tax-writeoff-mb0760","status":"publish","type":"post","link":"https:\/\/www.solarquotes.com.au\/blog\/commercial-solar-tax-writeoff-mb0760\/","title":{"rendered":"Instant Asset Write-Off For Small Commercial Solar Still Available"},"content":{"rendered":"
\"Small

Image: schropferoval<\/a><\/p><\/div>\n

For small businesses considering solar energy, the Federal Government’s instant asset write-off is back in effect and may be worthwhile taking advantage of while it’s still available.<\/p>\n

One of the few positives to emerge from Budget 2018-19<\/a> with regard to renewables was the extension of a $20,000 instant asset write\u2011off – which included solar power systems – for businesses with an annual turnover of less than $10 million.<\/p>\n

First introduced in the 2015\u201116 Budget, it was due to end on June 30 this year. However, the Federal Government announced it was to be extended for a further 12 months to June 30, 2019.<\/p>\n

A June post<\/a> on the ATO’s web site indicates the extension wasn’t yet law at that point, but it seems it passed Parliament a couple of weeks ago<\/a>.<\/p>\n

Good quality commercial solar power systems currently cost around $1,000 \u2013 $1,300 per kW installed in Australia and that includes the reduction provided by the nation’s major solar subsidy<\/a>, which applies to systems below 100kW capacity. Based on that cost range, a system of between 15kW and 20kW capacity could be installed and written off in the first year – but its important businesses check with their tax advisor before racing out and signing contracts for a system.<\/p>\n

Solar A Good Fit For Small Business<\/h2>\n

Unlike households that generally use the most electricity before 9am and after 5pm, many businesses operate between those hours, so solar power is a particularly good fit.<\/p>\n

A 20kW commercial solar power system should generate around 80kWh of electricity daily on average over a year. If 100% of that electricity is self-consumed (possible in a commercial scenario), that could represent an electricity bill saving of around $11,300 a year for a business in South Australia operating 7 days a week between the hours of 8am-5pm and based on AGL standard small business retail contract rates.<\/p>\n

Installing a system may also help reduce demand charges, particularly during the summer months.<\/p>\n

If you’re considering investing in a system for your business, check out our commercial solar guide<\/a> and Ronald’s hints, tips and tricks for commercial solar power<\/a>.<\/p>\n

The instant asset write-off has now had two extensions and yet another after June 30, 2019 is not assured. While there is a push to make it a permanent arrangement, if that doesn’t eventuate the write-off will drop back to $1,000 on July 1, 2019 and normal depreciation rules apply for items that cost more. The latest guidance<\/a> (PDF) from the ATO on the “life” of a solar power system for tax purposes is 20 years.<\/p>\n","protected":false},"excerpt":{"rendered":"

For small businesses considering solar energy, the Federal Government’s instant asset write-off is back in effect and may be worthwhile taking advantage of while it’s still available.<\/p>\n","protected":false},"author":17,"featured_media":24546,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[678],"tags":[],"class_list":["post-24545","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-solar-battery-news","entry"],"acf":[],"yoast_head":"\nInstant Asset Write-Off For Small Commercial Solar Still Available<\/title>\n<meta name=\"description\" content=\"Some good news for small businesses considering solar energy - 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A $20,000 instant asset write\u2011off, first introduced in the 2015\u201116 Budget, was due to end on June 30 this year. However, it will be extended for a further\u2026","rel":"","context":"In "General Solar & Storage News"","block_context":{"text":"General Solar & Storage News","link":"https:\/\/www.solarquotes.com.au\/blog\/category\/solar-battery-news\/"},"img":{"alt_text":"Commercial solar energy","src":"https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2018\/05\/small-commercial-solar.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2018\/05\/small-commercial-solar.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2018\/05\/small-commercial-solar.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2018\/05\/small-commercial-solar.jpg?resize=700%2C400&ssl=1 2x"},"classes":[]},{"id":38365,"url":"https:\/\/www.solarquotes.com.au\/blog\/clean-energy-stimulus-mb1454\/","url_meta":{"origin":24545,"position":3},"title":"CEC Calls For Clean Energy Stimulus Package","author":"Michael Bloch","date":"March 23, 2020","format":false,"excerpt":"Australia's Clean Energy Council is lobbying federal, state and territory governments to make renewables and energy storage a key part COVID-19 response packages. The CEC wrote to governments across the country on Friday, urging them to implement a series of initiatives, including: The direct funding of installation of solar panels\u2026","rel":"","context":"In "General Solar & Storage News"","block_context":{"text":"General Solar & Storage News","link":"https:\/\/www.solarquotes.com.au\/blog\/category\/solar-battery-news\/"},"img":{"alt_text":"Clean energy stimulus - CEC","src":"https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2020\/03\/clean-energy-stimulus.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2020\/03\/clean-energy-stimulus.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2020\/03\/clean-energy-stimulus.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2020\/03\/clean-energy-stimulus.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2020\/03\/clean-energy-stimulus.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":39099,"url":"https:\/\/www.solarquotes.com.au\/blog\/community-solar-grants-mb1492\/","url_meta":{"origin":24545,"position":4},"title":"Community Energy Efficiency and Solar Power Grants Still Available","author":"Michael Bloch","date":"April 21, 2020","format":false,"excerpt":"A federal community energy efficiency grants program has been very popular - so interested community groups will need to get their skates on. The Energy Efficient Communities Program - Community Energy Efficiency and Solar Grants 2020 provides groups with grants up to $12,500 for eligible activities including but not limited\u2026","rel":"","context":"In "General Solar & Storage News"","block_context":{"text":"General Solar & Storage News","link":"https:\/\/www.solarquotes.com.au\/blog\/category\/solar-battery-news\/"},"img":{"alt_text":"Community grants for solar energy","src":"https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2020\/04\/community-grants-solar.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2020\/04\/community-grants-solar.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2020\/04\/community-grants-solar.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2020\/04\/community-grants-solar.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2020\/04\/community-grants-solar.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":73674,"url":"https:\/\/www.solarquotes.com.au\/blog\/cba-green-finance-mb2901\/","url_meta":{"origin":24545,"position":5},"title":"CBA Launches Green Asset Finance Solutions For Businesses","author":"Michael Bloch","date":"April 18, 2023","format":false,"excerpt":"A new green asset finance solution on offer from the Commonwealth Bank of Australia (CBA) for businesses is providing a discount of up to 1 per cent off the standard rate for qualifying equipment. CBA's Green Vehicle and Equipment Finance is now available for assets including: Electric cars, trucks and\u2026","rel":"","context":"In "General Solar & Storage News"","block_context":{"text":"General Solar & Storage News","link":"https:\/\/www.solarquotes.com.au\/blog\/category\/solar-battery-news\/"},"img":{"alt_text":"Green finance from the Commonwealth Bank","src":"https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2023\/04\/cba-green-finance.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2023\/04\/cba-green-finance.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2023\/04\/cba-green-finance.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2023\/04\/cba-green-finance.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2023\/04\/cba-green-finance.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.solarquotes.com.au\/blog\/wp-json\/wp\/v2\/posts\/24545","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.solarquotes.com.au\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.solarquotes.com.au\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.solarquotes.com.au\/blog\/wp-json\/wp\/v2\/users\/17"}],"replies":[{"embeddable":true,"href":"https:\/\/www.solarquotes.com.au\/blog\/wp-json\/wp\/v2\/comments?post=24545"}],"version-history":[{"count":2,"href":"https:\/\/www.solarquotes.com.au\/blog\/wp-json\/wp\/v2\/posts\/24545\/revisions"}],"predecessor-version":[{"id":24548,"href":"https:\/\/www.solarquotes.com.au\/blog\/wp-json\/wp\/v2\/posts\/24545\/revisions\/24548"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.solarquotes.com.au\/blog\/wp-json\/wp\/v2\/media\/24546"}],"wp:attachment":[{"href":"https:\/\/www.solarquotes.com.au\/blog\/wp-json\/wp\/v2\/media?parent=24545"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.solarquotes.com.au\/blog\/wp-json\/wp\/v2\/categories?post=24545"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.solarquotes.com.au\/blog\/wp-json\/wp\/v2\/tags?post=24545"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}