Section 12B of the Income Tax Act allows for an accelerated capital depreciation allowance for assets owned and used by a taxpayer in generating electricity, including solar energy.
Until February 2025, a depreciation allowance of 125% of the cost of the solar system is applicable for accelerated depreciation within one year.
The following purchase options qualify for the accelerated depreciation allowance:
All major banks have recently extended their financing terms to between 84 and 120 months (7 to 10 years).
The cost of the solar PV system allowed for accelerated depreciation includes its full direct capital cost, which encompasses:
Contact us below for a proposal on achieving energy independence in the most tax-efficient manner.
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Please note that selected items may not be in stock but you are welcome to still place an order. BHG Power will confirm lead time upon receipt of your order. Dismiss