As the world continues to shift towards more sustainable practices, small businesses in Australia are looking for ways to reduce their carbon footprint and save money on energy costs. One way to achieve both of these goals is by installing an electric vehicle (EV) charger on your business premises. And with the Australian government's federal tax incentives, now is the perfect time to make the switch to EVs.
Here's how small businesses can take advantage of the federal tax incentives to install an EV charger:
Understand the tax incentives that apply to you. The Australian government offers a range of incentives to encourage the uptake of electric vehicles, including the installation of EV chargers. The most significant incentive is the Instant Asset Write-Off scheme, which allows eligible small businesses to claim a full deduction for the cost of assets such as EV chargers that cost less than $150,000. This means that you can claim the full cost of the charger as a tax deduction in the year you install it, rather than claiming it over several years. Speak to your accountant or tax specialist to understand what incentives applies for you business,
Choose the right EV charger for your business needs. When it comes to choosing an EV charger for your business, it's important to consider your specific needs. Do you want a charger that can charge multiple vehicles at once? Do you need a charger for your employees and/or your customers? Do you need a charger that can be installed indoors or outdoors? These are all important factors to consider when selecting the right charger for your business.
Save money on energy costs. Installing an EV charger can also save your business money on energy costs. Many EV chargers allow you to schedule charging during off-peak hours when electricity rates are lower. This means that you can charge your vehicles for less, while also reducing your overall energy consumption.
In addition, EVs are generally cheaper to run than petrol or diesel vehicles. According to the Australian Electric Vehicle Association, EVs can cost as little as 2-3 cents per kilometre to run, compared to 10-12 cents per kilometre for petrol or diesel vehicles. This means that over time, your business can save money on fuel costs by making the switch to electric vehicles.
So, if you're a small business owner in Australia looking to reduce your carbon footprint and save money on energy costs, now is the perfect time to install an EV charger on your premises. With the federal tax incentives available, you can take advantage of the latest technology while also enjoying significant tax savings.