Access a bonus 20 per cent tax deduction
Investing in a new, energy efficient compressed air system could help your business access a bonus 20 per cent tax deduction this financial year, thanks to the new Federal Government Small Business Energy Incentive.
Small and medium businesses can invest in new equipment and systems that deliver ongoing power savings, as well as helping Australia lower emissions.
The new incentive has benefits for trades, engineering and manufacturing businesses, helping them plan for growth through current economic challenges.
About the small business energy incentive
The bonus tax deduction will provide businesses with annual turnover of less than $50 million an additional 20 per cent deduction on spending that supports electrification and more efficient use of energy.
Up to $100,000 of total expenditure will be eligible for the incentive, with the maximum bonus tax deduction being $20,000 per business.
Variable speed drive compressors reduce energy consumption
A significant amount of energy is wasted in Australia every year as a result of inefficient or poorly designed and maintained compressed air systems.
Investing in a properly sized variable speed drive compressor is an easy and quick way to make sure your compressed air production process doesn’t waste energy.
Variable speed drive (VSD) allows the compressor to be very flexible and efficient in responding to changes in air demand. The VSD simply measures the system pressure and maintains a constant delivery pressure within a narrow pressure band.
This has benefits for your business, including:
- Reduced energy consumption (in the proper application)
- Quieter than a fixed speed when running at a lower RPM
- Consistent plant pressure – increased component lifetime
- Less maintenance costs and ease of maintenance
- Low inrush current during motor starts
- Compact total solution
Not sure whether a VSD compressor is the right choice for you? Visit our website or speak with our compressed air specialists.
Start planning and get ahead
Eligible assets or upgrades need to be first used or installed ready for use between 1 July 2023 and 30 June 2024. This measure is not yet law.
More information about the Incentive and how your business might benefit will be released by Treasury soon. We’ll also share updates on our Facebook, LinkedIn, and Instagram pages as soon as they are available.
If you would like to get ahead and talk to our team about upgrading your compressed air system to maximise energy efficiencies, give us a call on 1300 290 638 or email info@nesscopressure.com.au.
