Small and medium-sized businesses that invest in energy-efficient equipment could be eligible for a tax deduction of up to $20,000, with bill relief schemes also available for electricity costs.

The Small Business Energy Incentive, announced in the last Federal Budget, aims to reduce energy consumption. Up to $100,000 of total expenditure will be eligible for the incentive, with the maximum bonus tax deduction being $20,000 per business.

Eligible businesses with a turnover of up to $50m can access the Energy Incentive tax deduction to electrify their cooling and heating systems, install batteries and heat pumps, or adopt more efficient fridges and induction cooktops. The materials must be installed between 1 July 2023 – 30 June 2024.

More information can be found here: https://www.ato.gov.au/General/New-legislation/In-detail/Direct-taxes/Small-business-energy-incentive/

The Energy Bill Relief Fund is administered by State Governments.

In South Australia, if you meet the eligibility criteria and run a business (with a separate tariff with your electricity retailer) and consumption is less than 160MWh, you could access $650 in electricity bill relief.

To find out more about how the bill relief works, go to SA.GOV.AU – Energy bill relief (www.sa.gov.au)