Small business energy incentive

The 2023-24 Budget energy incentive for small businesses.

The Australian Government now offers businesses with under $50 million annual turnover an extra 20% deduction on energy-efficient spending. This applies to eligible asset purchases and improvements from 1 July 2023 to 30 June 2024.

The incentive helps small businesses invest in:

• Electrifying
  

• heating and cooling

• Upgrading to efficient appliances

• Installing batteries and heat pumps

Up to $100,000 of spending is eligible, with a maximum $20,000 bonus deduction per business.