Plug into some power relief

Make the most of the subsidies and deductions, with both federal and state governments trying to ease the energy bill pain

- Anthony O'Brien

Rising utility bills are putting profits under pressure for more than one Lin three (36%) small businesses, according to a 2023 survey by MYOB, the accounting software provider. So, when the federal budget included energy savings of up to $650 for eligible small businesses from July 2023, their owners undoubtedly breathed a sigh of relief.

As is often the case, though, the devil is in the detail. The key words are "eligible" and "up to". The reality is that not every small business will share in the spoils.

The government will chip in $325 towards power bill relief for each small business nationally. But the savings could be far higher depending on your location.

In NSW, Queensland, Western Australia, South Australia, Tasmania and the Northern Territory, the state/territory government will provide a co-contribution of $325. With the federal relief, this means a saving of $650 per business.

In Canberra, the situation is slightly different. The ACT government is lowering electricity tariffs for businesses through its large-scale feed-in tariff scheme. This will provide direct bill relief, with the savings expected to average around $624 annually per small business. This is on top of the Commonwealth's $325.