New financial year brings small biz help

THE Federal Government has introduced a number of measures to help small businesses to mark the new financial year.

Since 1 July, eligible small businesses have been able to receive an upfront discount of about 30 per cent on the cost of installing a battery.

Every local small business is also able to receive an additional $150 in energy bill relief, with the government’s energy bill rebates extended until the end of the year.

The rebates will be automatically applied to businesses’ electricity bills and come on top of previous rebates that have been rolled out across the previous 12 months.

Furthermore, the government is extending the $20,000 Instant Asset Write Off through to 1 July 2026.

Eligible assets include new tools for tradespeople, coffee machines for cafes, cameras for photography businesses and other types of office equipment.

Discussing the new undertakings with Be.Bendigo CEO Hayley Tibbett last week, Federal Member for Bendigo Lisa Chesters said the impact energy bills can have on cash flow is one of the issues that small businesses raise with her.

“Our energy bill relief provides short term assistance, while our Cheaper Home Batteries Program empowers businesses to power themselves, keeping bills down in the long term,” she said.

“Extending the $20,000 Instant Asset Write Off will help our local small businesses invest in themselves. It allows them to become more productive and helps secure their future.

“Our measures, along with the State Government measures like slashing payroll tax demonstrate that we’re listening.”