Solar Power Systems Are Claimable Under $20,000 Instant Asset Write-off
Yes, solar power systems can be deducted.
A spokesperson for the Australian Taxation Office confirmed to My Business that solar power systems are eligible for the tax break, provided it is legitimately used for business. “The cost of a solar power system can be claimed under the $20,000 instant asset write-off where the system costs less than $20,000 and it is bought and used by an eligible small business to generate electricity for use in the business,” the spokesperson said. “Where a portion of the electricity generated by the system is used for private purposes (for example, in a home-based business), the cost of the system must be apportioned when claiming the instant asset write-off. “A reasonable method of apportionment could be the ratio of electricity consumed by the household compared to the electricity consumed by the business.”
At the time of writing this article, Australian small businesses have until 30th June 2019, to take advantage of the less than $20,000 instant asset write-off.
If you have any questions relating to the instant tax write off or solar systems, please contact your Wardle Partners Accountant on (07) 5492 0300.
See what our clients are saying about us
Our success is driven by great results for our clients. Helping clients succeed is why we do what we do.
“We have enjoyed being a client of Wardle Partners for almost 30 years. They are efficient, courteous and highly professional. We know we are in safe hands."
RJ & MM IRWIN
Tecstaff Pty Ltd
“We have been happy with everything they do for us, including income tax returns, tax planning, sale of business, company secretarial, advice and assistance with our SMSF."
NIGEL & PATRICIA DOWLING
“Proven Accountancy Firm. We have been using their accounting, taxation, strategic planning and insurance services for approx 20 years. Highly recommend! "
“The staff are competent, professional, very approachable and friendly. We have valued their customer-focused service when handling our tax.”
CARMEL & LARRY DUFFY
“Wardle Partners have been our organisations Auditors for quite a few years... The level of communication and delivery is always timely and their willingness to assist us in improving...”
Lions Organisation, District Treasurer
“A thoroughly professional team who treat clients like friends, not ‘numbers’."
SONDRA LEE GRAINGER
“From our very first meeting, Mark was so knowledgeable in his explanations and professional is sorting our transition to Wardle Partners. We haven’t looked back."
KEN & LEESA HOOLIHAN
“We approached Wardle Partners for assistance with setting up our small business. It was our first time at doing anything of this nature and we were amazed by the guidance and support we received.”
LUKE & SHARNAH CARTER
“My association with Wardle Partners has been of the highest standard, for many years. Business or queries are attended to promptly & efficiently.”
“For over 10 years Wardle Partners has been our trusted adviser for both our business and personal finances and taxation. They helped us grow our business and were there for us when it was time to sell...“
TRICIA & PETER BULL
“Wardle partners have looked after all of our accounting and business needs for over 20 years and have always been wonderful to work with. Great advice and service delivered professionally and very importantly in a friendly down to earth way“
JAMES & ALICE GENN
Images are for visual purposes only and are not of the actual person.