What Does the End of the Financial Year (EOFY) Mean for Business?

As the end of the financial year (EOFY) approaches, businesses around Australia are gearing up to assess their financial standing and plan for the future. EOFY presents a unique opportunity for businesses, especially those considering sustainable upgrades, to make the most of available incentives and drive positive change in their operations.


EOFY Incentives for Sustainable Upgrades

If you’re looking to upgrade your building and improve the efficiency of your business operations, this EOFY is the perfect time to do so. Navigating through the wide range of incentives available can be overwhelming. To make it a bit easier for you, we’ve compiled a list of incentives that can help you to fund your business’ sustainable upgrades:


Small Business Energy Incentive

Good news for small and medium businesses who are looking to electrify and save on their energy bills! You can get a bonus 20% tax deduction for eligible assets supporting electrification and more efficient use of energy. Up to $100,000 of total expenditure will be eligible for the incentive, with a maximum bonus tax deduction of $20,000 per business. This includes investments such as electrifying your heating and cooling systems, installing batteries and upgrading to high-efficiency electrical goods. This could be considered an investment opportunity for businesses that are looking to upgrade ageing or inefficient equipment.


$20,000 Instant Asset Write-Off

Eligible businesses can immediately deduct the business portion of the cost of an asset in the year it is first used or installed for use. Small businesses with an annual turnover below $10 million can instantly deduct eligible assets valued at less than $20,000. This threshold applies to each individual asset, allowing small businesses to write off multiple assets without a total cap on the amount. Check if you’re eligible for an instant asset write-off.


Sustainable Upgrades Made Easier with Environmental Upgrade Finance

In addition to the two incentives above, businesses can utilise our Environmental Upgrade Finance (EUF) to finance any financial gap when implementing sustainable upgrades. At Sustainable Australia Fund (SAF), we provide up to 100% finance for businesses undertaking sustainable upgrades to help unlock their savings and reach their sustainability goals. Our funding and terms are flexible and repayments are made alongside council rates, so most projects can be cash-flow-positive from day one.


Ready to maximise your EOFY savings this year?

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