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Small Business Energy Incentive

June 7, 2023

The Australian Government has announced it will provide businesses an additional 20% deduction on spending between 1 July 2023 and 30 June 2024 that supports electrification and more efficient use of energy.

Eligible assets or upgrades will need to be first used or installed ready for use between 1 July 2023 and 30 June 2024. This measure is not yet law.


The measure will help small businesses make investments like:


  • electrifying their heating and cooling systems
  • upgrading to more efficient fridges and induction cooktops
  • installing batteries and heat pumps.


Up to $100,000 of total expenditure will be eligible for the incentive, with the maximum bonus tax deduction being $20,000 per business.


For more information, see the Hon Dr Jim Chalmers MP joint media release Small Business Energy Incentive, 30 April 2023.


This measure is not yet law.

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