Costing (publicly release)

Home Battery Tax Relief

Summary of proposal

The proposal would provide tax deductions to promote the take-up of solar home battery systems to support renewable energy production. The proposal has three policy options each starting 1 July 2024 and closing 30 June 2034. The system must be designed and installed by a Clean Energy Council accredited designer and installer and the capacity must not exceed 100 kilowatts (kW).

Option 1

Eligible households could access the policy option detailed below.

Implied budget cost of supporting rentals through investors' tax breaks

Summary of proposal

The request sought the following figures over the forward estimates and medium term:

Implied budget cost of supporting rentals through investors' tax breaks

Summary of proposal

The request sought the following figures over the forward estimates and medium term:

Implied budget cost of supporting rentals through investors' tax breaks

Summary of proposal

The request sought the following figures over the forward estimates and medium term:

Implied budget cost of supporting rentals through investors' tax breaks

Summary of proposal

The request sought the following figures over the forward estimates and medium term:

Implied budget cost of supporting rentals through investors' tax breaks

Summary of proposal

The request sought the following figures over the forward estimates and medium term:

Implied budget cost of supporting rentals through investors' tax breaks

Summary of proposal

The request sought the following figures over the forward estimates and medium term:

Implied budget cost of supporting rentals through investors' tax breaks

Summary of proposal

The request sought the following figures over the forward estimates and medium term:

Lowering the PRRT deductions cap

Summary of proposal

This proposal would change the deductions cap introduced in the Petroleum Resource Rent Tax (PRRT) measure in the 2023-24 Budget, Petroleum Resource Rent Tax – Government Response to the Review of the PRRT Gas Transfer Pricing arrangements (the 2023-24 measure). This measure affects 5 major offshore liquefied natural gas (LNG) projects:

Gorgon
Ichthys
Wheatstone
Pluto
Prelude.

Under the proposal, the cap would limit deductible expenditure to the value of 80% of each taxpayer’s PRRT assessable receipts.

Lowering the PRRT deductions cap

Summary of proposal

This proposal would change the deductions cap introduced in the Petroleum Resource Rent Tax (PRRT) measure in the 2023-24 Budget, Petroleum Resource Rent Tax – Government Response to the Review of the PRRT Gas Transfer Pricing arrangements (the 2023-24 measure). This measure affects 5 major offshore liquefied natural gas (LNG) projects:

Gorgon
Ichthys
Wheatstone
Pluto
Prelude.

Under the proposal, the cap would limit deductible expenditure to the value of 80% of each taxpayer’s PRRT assessable receipts.