As part of the new stimulus package announced this morning by Prime Minister Scott Morrison, in response to the Covid-19 situation, the Government has extended the instant asset write-off, which allows a business to claim a tax break for what they spend on equipment, assets etc.

The instant asset write-off is currently restricted to companies with turnovers of up to $50 million, for maximum asset value of $30,000. But this will now be significantly lifted, allowing companies with turnovers of up to $500 million to make instant assets write-offs of up to $150,000.

This is great news for our industry particularly our commercial customers who wanted to get solar however put it off due to the cost, now's the perfect time to install solar and write it off on your tax!