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vlt
PostPosted: Feb 24th, '11, 12:45 
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jet wrote:
Sorry to hijack but regarding taxation on produced kW/hr
Assuning you pay income tax, wont this power generation be classed as income, even if it is net measured for electricity account.


I thought they already ruled that it was not subject to taxation.

The issue would be, the government would lose more money due to the costs of generating that income, that people will be able to claim, than the tax on the income itself.
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jet
PostPosted: Feb 24th, '11, 13:13 
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vlt wrote:
jet wrote:
Sorry to hijack but regarding taxation on produced kW/hr
Assuning you pay income tax, wont this power generation be classed as income, even if it is net measured for electricity account.


I thought they already ruled that it was not subject to taxation.

The issue would be, the government would lose more money due to the costs of generating that income, that people will be able to claim, than the tax on the income itself.


I hope your right, most other fed govt initiatives do have tax applied on the grant or income from it. Its common for those recieving grant to realise this only at next tax time

What costs other than depreciation? Also Im not sure it can be deducted anyway unless it forms a significant part of your income - like a small farm or home business.
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jet
PostPosted: Feb 24th, '11, 13:20 
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I just looked around, theres no tax on income generated but no deductions either.
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Food&Fish
PostPosted: Feb 24th, '11, 13:28 
Seriously, this cant be healthy.
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Yes theres a big thing about the pension apparentley it effects your pension
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vlt
PostPosted: Feb 24th, '11, 13:40 
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If I put in a 5kw system, the going rate is ~20k to ~25k

Maintenance costs (if any)
Setup Costs - depreciation

Regardless if how little the income is, if your going to tax me on it, the costs should be deductible.

So 20k over 40 years is 500 a year in depreciation.

What is I borrow the initial investment?

F&F....I'll dig around...I believe there the ATO said it wouldnt be considered income....nor pensions.

EDIT....MMMM :think: Does affect pensions....thats just wrong....

http://www.solarswitchaustralia.com.au/ ... he_pension
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gnash06
PostPosted: Feb 24th, '11, 14:47 
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Food&Fish wrote:
Yes theres a big thing about the pension apparentley it effects your pension


The older couple that live next door to my parents in Mandurah were complaining about it affecting their pension, thats just rude I reckon.
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mantis
PostPosted: Feb 24th, '11, 15:45 
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No clue as I havent looked into it. Dunno if all we produce goes into the grid or just some of it and not sure on rates as yet. Still waiting on smart meter.
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ColinW
PostPosted: Feb 28th, '11, 15:09 
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Overcast conditions in Melbourne for the past 2 days - Solar produced 3kWh yesterday... and only 2 kWh today - 0 back to Grid for both days.
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mantis
PostPosted: Feb 28th, '11, 18:21 
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Only 4.7Kwh today with rain and heavy overcast. Hoping for some fine autumn weather but not confident
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ColinW
PostPosted: Mar 1st, '11, 16:24 
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7kWh today... 3kWh back to grid. Hope the sun shines longer tomorrow.
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mantis
PostPosted: Mar 1st, '11, 16:36 
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18.2kwh today with some cloud this morning. Still no smart meter so we are just stopping or winding the meter back when the sun shines.
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ColinW
PostPosted: Mar 2nd, '11, 14:39 
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Another bad day for Solar production:
Only 5kWh produced and 1.6kWh back to Grid.
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mantis
PostPosted: Mar 2nd, '11, 15:50 
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20.3kwh today and still going but not for long. Meter has only moved 2.5kwh in the last 48hrs so got to be happy with that :D
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ColinW
PostPosted: Mar 5th, '11, 14:36 
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Today my Solar produced 8kWh - 4.1kWh went back to grid - we used 8.4kWh.
Regards - ColinW
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mantis
PostPosted: Mar 5th, '11, 15:46 
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20.2kwh today and may go a tad higher
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