100% tax write off in the one year to the value of $500 for water saving fittings is what I think the Federal Government should be allowing for both investors and even PPOR owners. One claim per household could be allowed.
I’m told some of these fittings can save up to 30% water usage. Wholly sh_t ! the nation could cut its water usage by 30%
Many winners no losers !
1. winner government with more time to plan for drought disaster.
2. winner the people, cheaper incentive to upgrade tap fittings and also cheaper water bills.Say for argument sake, the average household water bill is $250 per quarter being $1000 per year. 30% saving means its reduced to $700 per year, thus a saving of $300 in one year !
OK say the cost of the tap fittings cost $300 for kitchen, and bathroom taps, which included $100 plumbers fee, thus $200 for the taps. If this was so, then the system has paid for itself in 1 year.
OK so it may take a bit longer if its more expensive, but you get the idea. In any event If the government made such a decision, the costs would come down as demand picked up and economies of scale on manufacture kicked in and also free market competition jumped on the gravy train of high consumer demand.
my thoughts.
cheers
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