Have you considered installing solar panels? Now is the perfect time to make your dreams come true, because by taking advantage of the current Household Tax Credit, you can save thousands of euros on your energy renovation.
The government is about to cut the household allowance. This is part of a larger plan to increase taxes by around €700 million. The date of the cut is not yet known for sure, but it is possible that the change will come into force as early as the beginning of next year.
Moreover, there is no end in sight to rising electricity prices. Electricity transmission prices have been spiralling out of control for years, and experts expect them to continue to rise in the future.
So now is the time to roll up your sleeves and make the most of the government’s cash injection and avoid ever-rising electricity transmission prices.
Savings of up to almost €5000
The household allowance is calendar-year specific, i.e. it is granted in the year in which you pay the company for the work. By purchasing a photovoltaic system now, you can save up to €2,400. The household allowance is personal, but couples can get a joint allowance of up to €4 800.
Household tax credit will be significantly reduced
According to the Central Taxpayers’ Association, up to 400 000 people have taken advantage of the household allowance each year, which makes the savings significant for the state. On an annual basis, up to €95 million will be cut from the household tax credit. According to the latest information, the household deduction for work allowances will drop from 50% to 40%. In practice, this would mean that a couple taking advantage of the maximum household allowance would save €300 less in the future.
When can the household allowance be used?
A household allowance is a deduction from tax, i.e. it reduces the amount of tax due. The household allowance allows you to deduct part of the expenses incurred for work done at home, in a leisure apartment or in your parents’ home. Examples of work that can be deducted include maintenance and renovation work on a dwelling.
Our solar panels are deductible
Energiaturva is included in the pre-tax register and our services are deductible. It is therefore definitely worth taking advantage of the household allowance, if at all possible. We want to make it as easy as possible for our customers to apply for the household allowance. This is why we offer help in claiming the deduction and send our customers a claim form. This means that the customer only needs to complete the form and send it to the tax authorities.
Would solar panels be suitable for your roof?
A photovoltaic system is a long-term and sensible investment. By producing solar electricity, you protect yourself from ever-increasing transmission fees and reduce your carbon footprint.
Order a free photovoltaic survey and get more information about the benefits of solar power. The survey will help you find out what kind of solar panel system would be right for your home. If you wish, you can get a quote for a photovoltaic system at the same visit. The survey is completely free of charge and does not commit you to anything.
