Instant Asset Write-Off as EOFY is Fast Approaching

School & Education / Sustainability by Tom Edwards

Your guide to saving this EOFY with UNIfied

EOFY 2023 is fast approaching

Investing in new assets can be a significant expense for small businesses, but with the Federal Government’s Instant Asset Write-off, it doesn’t have to be. In fact, if you’re considering investing in a new equipment or technology, the Instant Asset Write-off tax incentive could be a game-changer.

Take advantage of this tax deduction by 30 June 2023

With electricity prices set to rise again in the coming months, it’s becoming crucial for businesses to invest in renewable energy to reduce their energy consumption.

The Instant Asset Write-off is a tax deduction that allows eligible small businesses to claim an immediate deduction for the cost of eligible assets, such as solar, instead of depreciating them over time.  This means that you can immediately reduce your taxable income and lower your tax liability in the year of purchase, rather than waiting for years to recoup the cost of the asset.  However, you must do this before 30 June 2023!

Eligibility criteria

The eligibility threshold for this incentive has increased to $150,000, which means that more businesses can take advantage of the tax deduction.

More importantly, the previous limit of $50 million aggregated turnover for businesses has been generously increased to up to $5 billion. That’s seriously good news.

So if you’re planning to invest in new assets for your business such as a commercial solar PV system, why not consider using the Instant Asset Write-off as a way to:

  1. Reduce your tax burden,
  2. Improve your financial position, and
  3. Reduce your carbon footprint at the same time?
Why UNIfied for your business?

At UNIfied, we are here to ensure you can get the best out of your solar system, reduce your energy consumption and carbon footprint at the same time.

  • Trusted solar and storage experts Since 2012 with over 37,000 sites installed
  • Energy Performance Guarantee program, where we cover for the saving shortfall if your system is not performing at optimum capacity
  • High-quality products and services: ISO certifications
  • Complete project management
  • Maintenance, monitoring and support well beyond installation phase

Furthermore, you automatically get;

  • a 12-year product warranty
  • a 25-year performance guarantee, along with
  • a 5-year warranty on our workmanship

Contact the UNIfied Energy Team or call 1300 817 847

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