Published on 01 Nov 09
by "AUSTRALIAN TAX FORUM" JOURNAL ARTICLE
The legislation to give effect to Australia’s Carbon Pollution Reduction Scheme (CPRS) from the year beginning 1 July 2011 was introduced into the House of Representatives on 14 May 2009 and was defeated in the Senate on 13 August 2009. The CPRS was based upon a White Paper: Carbon Pollution Reduction Scheme: Australia’s Low Pollution Future on 15 December 2008. The paper, which followed on the Green Paper released on 16 July 2008, outlines the final design of the CPRS and the medium-term target range for reducing carbon pollution. In the tax context very little has changed from scheme outlined in the July Green Paper, despite extensive consultation with the tax profession.
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