Tax rules for solar income clarified

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The Federal Government has clarified the tax rules for pensioners who have solar power systems at their homes.

If the feed-in tariff is paid as a credit on a power bill, the credit is not deemed to be income. However power sold back into the grid in return for cash, credit or direct deposit is considered income for tax purposes.

Single pensioners are able to earn up to $142 a fortnight without affecting the amount of pension they receive and couples combined can earn up to $248 a fortnight without affecting the amount of pension they receive.

For more information see the media release from Minister Jenny Macklin.

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Tax rules for solar income clarified

Printer-friendly ship to FriendPDF version

The Federal Government has clarified the tax rules for pensioners to the solar energy systems at home.

If the remuneration is paid as a credit on an electricity bill, is credited to income werden.jedoch makes back sold in the grid in return for cash, credit or direct deposit income for tax purposes applies.

Individual retirees are able to earn up to $ 142 without affecting the amount of pension that obtain and get you couples who combined two weeks can earn up to $ 248 per two weeks without affecting the amount of the pension.

See free in the media, by Minister Jenny Macklin.

View the original article here