Solar Tax Incentive

[Greg C]

Actually no....

If you did the claim correctly for tax purposes you want to write it off in one shot not 5 years. That's the benefit of 12B accelerated write off.

Outside of that they might have gone the 11e route and then it's under the interpretation note guidance of how long to write it off. But it's not beneficial over 5.i mean it is but it's less so.

The accounting vs tax timing misalignment causes temporary differences for tax/acc purposes.

fair, but taking the tax over a 5 year period does give a decent spread and reduction.

 

[Snyper564]

fair, but taking the tax over a 5 year period does give a decent spread and reduction.

I had sufficient prof to kill it in one year - perfect in my situation

 

[Praemon]

fair, but taking the tax over a 5 year period does give a decent spread and reduction.

I think it could be beneficial if you already have a loss in the first year, and you don't expect to make a profit exceeding that loss over the next 2 years (I think the max carry over is 3 years?). Then it maybe makes more sense doing the normal depreciation?

 

[ISP cash cow]

Just also want to check, I was under the impression that for residential use that only the panels can be subsidized, but someone mentioned to me yesterday that apparently they are looking to subsidize panels, batteries. The whole shebang. Is this true or is the full system only tax rebate able for companies and panels for residential?

 

[Snyper564]

Just also want to check, I was under the impression that for residential use that only the panels can be subsidized, but someone mentioned to me yesterday that apparently they are looking to subsidize panels, batteries. The whole shebang. Is this true or is the full system only tax rebate able for companies and panels for residential?

I did whole shebang but I have a very unique situation its not a rebate go a few posts back where I explain it in more detail.