› Flat Chat Strata Forum › Finance, budgeting and loans › Can we pay owners from solar panel profits? › Current Page
21/02/2020 at 4:53 pm
#48556
You could certainly reduce their levies by pumping profits from your excess solar power back into the general admin fund. However, actually handing back cash is a strata law and taxation minefield that you might want to avoid.
In fact, when the solar panels start generating profits as well as power, even if you just reduce the levies, you might have to issue a tax statement for all your owners then, as they are effectively making an income from a shared facility.
But that’s no reason not to do it. Paying more tax just means you are making more money.