Latest news with #Officeworks
The Advertiser
2 days ago
- Business
- The Advertiser
Lower energy use just the beginning for retail giant
Major Australian and New Zealand retailers are primed for an energy switch following millions of dollars in federal funding to decarbonise their services. Wesfarmers, who own shops like Officeworks, Bunnings, Kmart and Coles will finance rooftop solar, battery storage, a vehicle smart charging pilot and other efficiency initiatives across stores. This comes from a $100 million commitment from government-backed Clean Energy Finance Corporation, labelled Australia's specialist climate investor. It means Wesfarmers will be able to manage energy consumption across its retail sites and make them more efficient through storage. These installed or upgraded facility changes are expected to be in effect by the end of 2025. "We have long managed our businesses with climate and carbon awareness and we are committed to continuing to take action to reduce our impact on the environment," Wesfarmers CFO Anthony Gianotti said. A study to accelerate decarbonisation across stores will also be undertaken under the funding envelope. Adopting these initiatives is a "practical and speedy" way to cut the organisations carbon footprint, the climate investor's CEO Ian Learmonth said. "Many Australians would have enjoyed a Bunnings Saturday sausage sizzle or taken the path to Officeworks for those back-to-school necessities," he said. "At selected sites they will soon be able to add vehicle charging to their store visits while enjoying solar-powered air conditioning." Australia's retail sector accounts for 50 per cent of energy use in the commercial property sector and five per cent of the nation's greenhouse gas emissions. Batteries, virtual power plants and electric vehicles can reduce grid demand through co-ordination of their charging and discharging, the Australian Energy Market Operator said. Federal energy minister Chris Bowen said the partnership will drive down emissions and lower energy costs, while providing knock-on benefits to households. "This boost in finance by the Clean Energy Finance Corporation will accelerate Wesfarmers' efforts to reduce its carbon footprint, make the shift to cleaner and cheaper energy and better manage energy use," he said. Major Australian and New Zealand retailers are primed for an energy switch following millions of dollars in federal funding to decarbonise their services. Wesfarmers, who own shops like Officeworks, Bunnings, Kmart and Coles will finance rooftop solar, battery storage, a vehicle smart charging pilot and other efficiency initiatives across stores. This comes from a $100 million commitment from government-backed Clean Energy Finance Corporation, labelled Australia's specialist climate investor. It means Wesfarmers will be able to manage energy consumption across its retail sites and make them more efficient through storage. These installed or upgraded facility changes are expected to be in effect by the end of 2025. "We have long managed our businesses with climate and carbon awareness and we are committed to continuing to take action to reduce our impact on the environment," Wesfarmers CFO Anthony Gianotti said. A study to accelerate decarbonisation across stores will also be undertaken under the funding envelope. Adopting these initiatives is a "practical and speedy" way to cut the organisations carbon footprint, the climate investor's CEO Ian Learmonth said. "Many Australians would have enjoyed a Bunnings Saturday sausage sizzle or taken the path to Officeworks for those back-to-school necessities," he said. "At selected sites they will soon be able to add vehicle charging to their store visits while enjoying solar-powered air conditioning." Australia's retail sector accounts for 50 per cent of energy use in the commercial property sector and five per cent of the nation's greenhouse gas emissions. Batteries, virtual power plants and electric vehicles can reduce grid demand through co-ordination of their charging and discharging, the Australian Energy Market Operator said. Federal energy minister Chris Bowen said the partnership will drive down emissions and lower energy costs, while providing knock-on benefits to households. "This boost in finance by the Clean Energy Finance Corporation will accelerate Wesfarmers' efforts to reduce its carbon footprint, make the shift to cleaner and cheaper energy and better manage energy use," he said. Major Australian and New Zealand retailers are primed for an energy switch following millions of dollars in federal funding to decarbonise their services. Wesfarmers, who own shops like Officeworks, Bunnings, Kmart and Coles will finance rooftop solar, battery storage, a vehicle smart charging pilot and other efficiency initiatives across stores. This comes from a $100 million commitment from government-backed Clean Energy Finance Corporation, labelled Australia's specialist climate investor. It means Wesfarmers will be able to manage energy consumption across its retail sites and make them more efficient through storage. These installed or upgraded facility changes are expected to be in effect by the end of 2025. "We have long managed our businesses with climate and carbon awareness and we are committed to continuing to take action to reduce our impact on the environment," Wesfarmers CFO Anthony Gianotti said. A study to accelerate decarbonisation across stores will also be undertaken under the funding envelope. Adopting these initiatives is a "practical and speedy" way to cut the organisations carbon footprint, the climate investor's CEO Ian Learmonth said. "Many Australians would have enjoyed a Bunnings Saturday sausage sizzle or taken the path to Officeworks for those back-to-school necessities," he said. "At selected sites they will soon be able to add vehicle charging to their store visits while enjoying solar-powered air conditioning." Australia's retail sector accounts for 50 per cent of energy use in the commercial property sector and five per cent of the nation's greenhouse gas emissions. Batteries, virtual power plants and electric vehicles can reduce grid demand through co-ordination of their charging and discharging, the Australian Energy Market Operator said. Federal energy minister Chris Bowen said the partnership will drive down emissions and lower energy costs, while providing knock-on benefits to households. "This boost in finance by the Clean Energy Finance Corporation will accelerate Wesfarmers' efforts to reduce its carbon footprint, make the shift to cleaner and cheaper energy and better manage energy use," he said. Major Australian and New Zealand retailers are primed for an energy switch following millions of dollars in federal funding to decarbonise their services. Wesfarmers, who own shops like Officeworks, Bunnings, Kmart and Coles will finance rooftop solar, battery storage, a vehicle smart charging pilot and other efficiency initiatives across stores. This comes from a $100 million commitment from government-backed Clean Energy Finance Corporation, labelled Australia's specialist climate investor. It means Wesfarmers will be able to manage energy consumption across its retail sites and make them more efficient through storage. These installed or upgraded facility changes are expected to be in effect by the end of 2025. "We have long managed our businesses with climate and carbon awareness and we are committed to continuing to take action to reduce our impact on the environment," Wesfarmers CFO Anthony Gianotti said. A study to accelerate decarbonisation across stores will also be undertaken under the funding envelope. Adopting these initiatives is a "practical and speedy" way to cut the organisations carbon footprint, the climate investor's CEO Ian Learmonth said. "Many Australians would have enjoyed a Bunnings Saturday sausage sizzle or taken the path to Officeworks for those back-to-school necessities," he said. "At selected sites they will soon be able to add vehicle charging to their store visits while enjoying solar-powered air conditioning." Australia's retail sector accounts for 50 per cent of energy use in the commercial property sector and five per cent of the nation's greenhouse gas emissions. Batteries, virtual power plants and electric vehicles can reduce grid demand through co-ordination of their charging and discharging, the Australian Energy Market Operator said. Federal energy minister Chris Bowen said the partnership will drive down emissions and lower energy costs, while providing knock-on benefits to households. "This boost in finance by the Clean Energy Finance Corporation will accelerate Wesfarmers' efforts to reduce its carbon footprint, make the shift to cleaner and cheaper energy and better manage energy use," he said.
Perth Now
2 days ago
- Business
- Perth Now
Lower energy use just the beginning for retail giant
Major Australian and New Zealand retailers are primed for an energy switch following millions of dollars in federal funding to decarbonise their services. Wesfarmers, who own shops like Officeworks, Bunnings, Kmart and Coles will finance rooftop solar, battery storage, a vehicle smart charging pilot and other efficiency initiatives across stores. This comes from a $100 million commitment from government-backed Clean Energy Finance Corporation, labelled Australia's specialist climate investor. It means Wesfarmers will be able to manage energy consumption across its retail sites and make them more efficient through storage. These installed or upgraded facility changes are expected to be in effect by the end of 2025. "We have long managed our businesses with climate and carbon awareness and we are committed to continuing to take action to reduce our impact on the environment," Wesfarmers CFO Anthony Gianotti said. A study to accelerate decarbonisation across stores will also be undertaken under the funding envelope. Adopting these initiatives is a "practical and speedy" way to cut the organisations carbon footprint, the climate investor's CEO Ian Learmonth said. "Many Australians would have enjoyed a Bunnings Saturday sausage sizzle or taken the path to Officeworks for those back-to-school necessities," he said. "At selected sites they will soon be able to add vehicle charging to their store visits while enjoying solar-powered air conditioning." Australia's retail sector accounts for 50 per cent of energy use in the commercial property sector and five per cent of the nation's greenhouse gas emissions. Batteries, virtual power plants and electric vehicles can reduce grid demand through co-ordination of their charging and discharging, the Australian Energy Market Operator said. Federal energy minister Chris Bowen said the partnership will drive down emissions and lower energy costs, while providing knock-on benefits to households. "This boost in finance by the Clean Energy Finance Corporation will accelerate Wesfarmers' efforts to reduce its carbon footprint, make the shift to cleaner and cheaper energy and better manage energy use," he said.
The Guardian
2 days ago
- Business
- The Guardian
Australian government loans $100m to install EV chargers and solar panels at Bunnings and Officeworks stores
Wesfarmers has secured a $100m loan with the government's Clean Energy Finance Corporation to install more solar panels, batteries and EV chargers at its Bunnings and Officeworks stores. The chief executive of the CEFC, Ian Learmonth, said he hoped the financing package at the high-profile stores would help create a 'ripple effect' through the commercial sector, where the uptake of rooftop solar has been slower than across residential properties. The financing package, to be paid back by Wesfarmers over seven years at a competitive interest rate, would help accelerate the group's decarbonisation plans, Learmonth said. 'As a leading Australian company with these household brand names, we can provide them with competitive finance that's allowing them to meet a business case to deliver roof top solar, battery storage, various energy efficiency initiatives and putting EV chargers in,' he said. Sign up for Guardian Australia's breaking news email 'There is potential growth in the commercial and industrial sectors. When people see Bunnings and Officeworks doing this, it adds a ripple effect where other large companies can be influenced by seeing what these companies are doing, and seeing their car parks with EV chargers.' He said large industrial roof spaces had not been as well utilised with solar panels as households, sometimes because either structurally the roofs were not strong enough, or agreements were complicated between tenants and building owners. He said: 'This is a great opportunity where we have the owner and operator – Wesfarmers – that we can work with.' The CEFC, with access to $32bn of government money, is a green bank that provides financing and loans to accelerate decarbonisation. Sign up to Breaking News Australia Get the most important news as it breaks after newsletter promotion Australia's retail sector accounts for half of the energy use of all commercial properties and 5% of the country's emissions. CEFC said the solar and battery installations could also help to stabilise the country's electricity grid. Storing solar electricity in batteries to use in evening peaks, for example, can help even out power demand at times of higher electricity use. The executive director at the CEFC, Richard Lovell, said: 'By focusing on using its existing building assets to support renewable energy generation and energy storage, which are crucial for energy demand management, Wesfarmers continues to execute its active decarbonisation strategy to reduce its direct emissions.' Bunnings, Officeworks and WesCEF all have targets to reach net zero direct emissions by 2030, and to use 100% renewable electricity by the end of 2025. Wesfarmers will also use part of the CEFC finance to fund a study at its chemicals, energy and fertiliser business, WesCEF, into decarbonising the production of sodium cyanide – a chemical used in gold production. Work to install and upgrade facilities at Bunnings and Officeworks sites is expected to be completed by the end of this year. Wesfarmers chief financial officer, Anthony Gianotti, said the company welcomed the backing of the CEFC. 'We have long managed our businesses with climate and carbon awareness and we are committed to continuing to take action to reduce our impact on the environment.'
Yahoo
2 days ago
- Business
- Yahoo
$300 ATO warning over last minute buys to score tax deduction: ‘Beware'
Australians are being warned to think about what they buy before June 30 because not everything will be 100 per cent tax deductible with the Australian Taxation Office (ATO). The end of the financial year is just days away and many people are looking to make some last-minute purchases to boost their returns. Tax Invest Accounting director Belinda Raso told Yahoo Finance that ATO rules meant assets purchased before June 30 that are over $300 won't be able to be claimed in full in this year's tax return. This applies to depreciating assets, so things like furniture, equipment, laptops, mobile phones and hand tools. For these items, you can't claim an immediate tax deduction. Instead, you need to write-off the cost of the asset over a period of time, which will be the effective life of the asset and is usually at least two years. RELATED Major ATO tax warning as Aussies go on $1,714 spending spree before June 30 Centrelink $836 cash boost for 'very real' truth facing thousands of Aussies ATO issues July 1 warning to Aussies waiting on $1,500 tax refunds 'So at this time of year, we've got so many different companies like Officeworks spruiking everything's tax deductible,' Raso said. 'And it is, but you're not going to get all of that money back. Employees must be aware that if it's over $300, it must be claimed over its useful life.' For example, if you bought a $3,000 computer on June 15 for 100 per cent work use, your deduction for this financial year would be $66, not the full $3,000. If you bought it on July 1, you would be able to claim a whole year's worth of depreciation in next year's tax return because it goes by the date of purchase. 'So you could be looking at a $750 deduction rather than that $66,' Raso said. It comes as Officeworks' research reveals two in five Aussies plan to spend more on tax-deductible items than they did last year, with laptops, tech, stationery and office furniture topping tax-time shopping lists. The items need to be for work use, not personal in order to be claimed as a tax deduction. Raso said you could still buy items now, but 'beware' you won't get the full tax benefits this financial year. 'As long as they've got the cashflow for it and know that they're not going to get the benefit in this financial year, by all means, you can do it now,' she said. 'But most people are pushing these expenses forward and buying it now with the thinking that it's all going to be claimable. So as long as they're wary of the timing. 'There's no rush before June 30, unless it's under $300.' The ATO has a depreciation tool you can use through myGov or their website. It has a list of the useful lives of assets that you can search. For example, a laptop and an iPad will generally have a useful life of two years, a mobile phone will be two years, and a desktop computer and most hand tools will be four years. You can then claim the depreciation of the asset over the following year's tax returns. 'Whether you go through a tax agent or you lodge it yourself, that depreciation schedule that you'll have, you then need to continue that on for every tax return until it's fully expensed,' Raso said. 'That's important when you are changing accountants that you do provide a copy of your tax return, or provide a copy of what you've lodged yourself because in most cases if you don't do that, you're going to forget and end up not claiming the rest of your depreciation and that's just leaving money on the table.'Sign in to access your portfolio
The Age
4 days ago
- Business
- The Age
‘It's not a voucher': This is how Queensland's $100 back-to-school bonus will work
Every Queensland primary school student will get $100 wiped off their back-to-school costs next year, but that won't even cover the cost of pencils and books. The LNP government's Back to School Boost will give $100 to every state, Catholic and independent primary school student from January 1, and it will not be means tested. The payments will cost the government $188.6 million over four years, and can be spent on books, stationery, devices, excursions, uniforms, and extracurricular activities, including sports and arts. Despite it being described in a government press release on Tuesday as a '$100 voucher', Education Minister John-Paul Langbroek clarified on Wednesday that it was not a voucher. 'It's going to go to school accounts, then the parents can use it as a credit towards things they have costs for – so we're not giving people vouchers,' he said. 'Because, of course, what will always happen is, we have people saying 'cash them in'. We want to make sure this is applied to the costs of going to school.' On Facebook, parents said they feared schools would not pass the savings on. It was also not immediately clear exactly how the rebates would work, as the official book list tends to be ordered via an external office supplies company, or parents buy similar items from stores such as Officeworks or Big W. Excursions are billed via schools, but uniforms are often sold through P&Cs, which have separate bank accounts.
