Small Business News: Small business energy incentive is now law
The small business energy incentive is designed to support businesses to invest in assets to improve their energy efficiency and help them save on their energy bills. This means eligible businesses will be able to receive a bonus 20% tax deduction for spending that supports more efficient energy use. Available for businesses with an aggregated annual turnover of less than $50 million, it applies to eligible assets and improvements up to $100,000. The maximum bonus deduction is $20,000 per business.
Visit the ATO website to find out more about the small business energy incentive.
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