Government Coronavirus economic stimulus support for small and medium businesses

Both State and Federal governments have announced assistance and economic stimulus measures for small and medium businesses to help with the impact of the global Coronavirus pandemic.

Now may be an ideal time for businesses to use this assistance to invest in solar energy to permanently reduce energy costs.

As of March 23, 2020, announcements that are well placed to be used in solar energy investment include:

Federal Government $150,000 instant asset write-off

The federal government is increasing the instant asset write off from $30,000 to $150,000 and expanding access to businesses with an annual turnover less than $500 million until June 30.

Details here: https://treasury.gov.au/sites/default/files/2020-03/Fact_Sheet-Delivering_support_for_business_investment.pdf

This means that for any new solar system of 99kW (300 panels), the entire investment can be immediately written off for a tax saving of approximately $28,000.

Tasmanian Government Interest-free loans

Tasmanian small businesses with a turnover of less than $5 million in the hospitality, tourism, seafood production and export sectors can qualify for loans for the purchase of equipment or restructuring which will be interest free for three years.

Details here: http://www.premier.tas.gov.au/documents/FACT_SHEETS_-_STIMULUS_PACKAGES_Final-V2.0.pdf

Marshall Solar and Energy can design and install a system to suit you

Locally owned and operated, Marshall Solar and Energy have decades of experience in commercial solar development. We design and install systems all around Tasmania and with sophisticated modelling and analysis, and year-round support, we can you maximize your investment.