Page 6 - Climate Control News June 2021

News
Big spending budget for tradies
The Federal Budget is providing support for 5000 women to learn a trade in building and construction.
THE 2021/22 FEDERAL BUDGET WAS GOOD NEWS FOR INDUSTRY GENERALLY BUT ONCE AGAIN HVACR MISSED OUT ON SOME OF THE BIGGEST SPOILS SUCH AS TAX INCENTIVES.
MBA CEO, Denita Wawn
THE FEDERAL GOVERNMENT has an- nounced a big spending budget for construction and tradies with an additional $15.2 billion allo- cated to infrastructure projects.
Describing it as a nation building budget, Master Builders Australia CEO, Denita Wawn, said it is good news for the 400,000 workers en- gaged in building and construction businesses.
“This will boost the confidence of builders and tradies that the economic recovery can be completed,” she said.
“Builders and tradies are big backers of them- selves and their business success. Extending the highly successful instant asset write off scheme will mean the cash registers continue to ring as sales of utes and other business assets will con- tinue to bounce back to pre-pandemic levels.”
The government has extended a range of tax breaks for business including a one year extension to the "full expensing" scheme,
which allows businesses with a turnover or income of less than $5 billion to immediately write-off the cost of assets they first use or in- stall by June 30, 2023.
An instant write-off allows businesses to claim deductions upfront, rather than spread it over several years through depreciation.
The government is also providing tax incen- tives to encourage businesses to upgrade infor- mation technology.
“Building and construction SMEs have one of the lowest rates for uptake of technology. The Government’s investment in improving digital skills and capacity can make our indus- try even more productive,” Wawn said.
The Federal Budget is providing support for 5000 women to learn a trade in building and construction.
This is in addition to extending the 50 per cent wage subsidy to apprentices.
Call for HVACR tax incentives
WHILE THE AUSTRALIAN Institute of Re- frigeration, Air Conditioning and Heating (AIRAH) commended the government’s re- covery efforts in the 2021/22 Federal Budget, the industry group wants more done to im- prove sustainability.
AIRAH CEO, Tony Gleeson, said the instant asset write off scheme should be extended to heating and cooling systems.
“This scheme will benefit many busi-
nesses in our industry that can purchase new fleet but it would be even better if it included large heating and cooling sys- tems,” he said.
“These systems are classed as capital assets. HVACR equipment in Australia uses 24 per cent of all electricity, and produces 11.5 per cent of our greenhouse gas emissions.
“If this scheme covered these systems, building owners would be incentivised to in-
RIGHT: AIRAH CEO, Tony Gleeson.
stall more energy-effi- cient systems, making a huge difference.
“This is a once-in-a-
lifetime opportunity. By investing in a sustain- able built environment, including HVACR, we can take maximum advantage of it.”
CLIMATECONTROLNEWS.COM.AU
6