New Government Tax break for small business: You could receive an extra tax deduction of up to 50%!
- Businesses with an annual turnover of less than $2 million could benefit from an extra 50% tax deduction on the cost of a solar power system (after RECs and Rebate) costing $1000 or more. The product must be acquired by 31 December 2009 and installed ready for use by 31 December 2010.
- Businesses with an annual turnover of $2 million or more could benefit from an extra 10% tax deduction on the cost of a solar power system (after RECs and Rebate) costing $10 000 or more. The product must be acquired by 31 December 2009 and installed ready for use by 31 December 2010.
- Businesses with an annual turnover of $2 million or more will be able to depreciate 100% of the cost of the system over its lifetime.
- On top of that both small and larger businesses can benefit from very advantageous Feed In Tariffs (depending on your state).
- Getting the right solar solution will allow your business to dramatically reduce its electricity bill and cut down on your greenhouse emissions!
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