Small Business Energy Incentive

About this grant

This program provides a bonus tax deduction for the cost of eligible assets and improvements that support more efficient use of energy.

Eligibility requirements

All of the following criteria must be met:

• Small businesses.
• The small business energy incentive is designed to help businesses improve energy efficiency and save on energy bills.
• Businesses with an aggregated annual turnover of less than $50 million will have access to a bonus 20% tax deduction for the cost of eligible assets and improvements that support more efficient use of energy.
• The incentive applies to eligible expenditure on assets between 1 july 2023 and 30 june 2024 (the ‘bonus period’).
• The incentive also applies to eligible expenditure on improvements to existing assets incurred during the bonus period.
• Up to $100,000 of total expenditure will be eligible for the incentive, with the maximum bonus tax deduction being $20,000.
• The bonus deduction is separate and additional to other deductions you would ordinarily claim under taxation law.
• Funding to support zero emissions vehicle (zev) technologies
• Funding for investors in vic early-stage agtech startups
• Funding for business events held in tasmania

What the funding covers

• A maximum bonus tax deduction of $20K.

How to apply

1. 1Confirm readiness: Ensure you meet criteria (e.g., ABN, turnover limits, GST registration), align project objectives with grant goals, and estimate time for evidence gathering and writing.
2. 2Gather evidence: Collect documents like financials, business plans, market research, project budgets, resumes, risk analysis, and support letters to prove capability and impact.
3. 3Register/log in: Obtain an Australian Business Number (ABN) if needed, sign into the relevant portal (e.g., Business Grants Hub portal), and note any prerequisites like advisory service reports.
4. 4Prepare and write application: Address all selection criteria clearly (project details, government alignment, costs, outcomes, benefits); keep concise, factual, and compelling; validate for completeness.
5. 5Review, approve, and submit: Proofread, get stakeholder sign-off, submit online via the portal before deadline (no late entries); expect eligibility check, merit assessment, and outcome notification.
6. 6Visit https://business.gov.au/grants-and-programs/small-business-energy-incentive for application details

Application tips