updated 21/01/2021
Right now is an excellent time for your business to install commercial solar as the government incentive is a write-off up to $150,000. Slash your energy bills and reduce your tax bill!
The government increased the instant tax write off five fold due to the economic impact of COVID-19 and the bushfires. Your business can write off solar instantly. Reduce or wipe out energy bills by making the switch to commercial solar. Before end of June 2021 businesses purchasing an asset of up to $150,000 can immediately write off 100% of the asset. This unprecedented government incentive is an increase of $120,000 on the previous threshold.
Go solar, save on energy costs and write off the purchase cost! We also offer clean energy finance with 0% deposit (low doc loan).
This makes commercial solar a great option for all types of business both large and small. For small solar systems of 5 KWH suitable for small businesses with limited roof space. And for larger systems of 30KW or more for factories, shopping centres, warehouses and large corporate buildings. What makes instant asset write-off a great benefit is that it is front loaded. You also do not need to install the system before the end of 2020
What is the Benefit?
Using this KW solar system, which is a much bigger system than most small to medium businesses even need. Most of our clients install anywhere between a 5kw and 30kw commercial solar system.
Being able to instantly write-off the solar system means the return on the investment could be reached in as little as 3 years and continued savings of up to $10,000 per year (on a 20kw system) and potential 10 years saving of $100,000.
What about the Deadline of this Financial Year?
The lead time for installation and installation can be after the end of 2020 as long as the purchase agreement is completed before end of 2020. Then it can be claimed on your next BAS.
This means it is imperative to contact us ASAP to organise a quote and apply for finance with us if needed. We have partnered with Pinnacle Road to provide energy finance to businesses for commercial solar installation. This means we can provide market-leading pricing and market-leading low doc loans. We can install and provide all finance thanks as we are accredited to provide clean energy finance. Applying for finance is a straightforward process with little documentation needed.
- $0 upfront payment
- Immediate tax write off up to $150K
- Cash flow positive
- Solar pays off the finance
- Low document finance
Instant Asset Write-off Details
You can install a solar system for a business of up to $150,000 and write it all off as an instant tax deduction, provided:
The business annual turnover is less than $500 million
Purchased before this financial year
Can be used for multiple purchases provided each purchase within $150,000
The Federal government also implemented a second tax incentive called ‘Backing Business Investment’. This states that if a business investment of up to $150,000 is made this financial year it can use the instant asset write-off incentive, but any investment no matter its expense can deduct 50% of its price with normal depreciation applying to the rest. The rules to be met are as follows;
The business has an annual turnover of less than $500 million.
It happens before the end of next financial year (30th of June 2021)
Commercial Solar Installation
We will see a rush from businesses to take up this offer before the end of the month, our team is prepared and can advise you on the purchase date then installation date. This means we get your paperwork completed ASAP to qualify before the deadline.
Commercial Solar is one of our specialist electrical installations. Our team are experts in the field. You can be assured the whole process will be professional and without compromise. The urgency currently to advise our potential clients is so they can take advantage of the tax incentive.
Commercial solar even without the instant tax write-off is fantastic for saving on business costs. The reduction in energy bills offsets the repayments and we provide low-doc no deposit loans. So finance, installation and ongoing maintenance can be handled all by us.
