Hi all,
Does anyone know if the purchasing carbon credits are tax deductible? Seems to be inconsisent information on the various supplier sites. @HannahM @SarahSannen would you know? thanks so much in advance for your help!
Hey Mei Ling, sorry just seeing this now. carbon offsets are a financial commodity so they wouldn’t be treated like a charitable donation. However, I believe they can be treated as a business expense as the business is purchasing them, which would therefore lower the taxable earnings.
I’m not an accountant or authorised to give financial advice though, so i’ll double check with our accountant on how they treat the ones we buy for you.
Thanks so much Hannah for this, very helpful. I will ask our accountant too. Cheers!