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25 Jul 08 Carbon Pollution Reduction Scheme

Following the release last week of the Government's Green Paper containing proposals for a new plan (a Carbon Pollution Reduction Scheme) to tackle climate change by reducing carbon pollution (see 2008 TAXVINE No 28 (1) and (2) (18 July 2008)), Michael Dirkis FTIA and Joan Roberts FTIA (Harwood Andrews Lawyers) attended Treasury information sessions in Sydney and Melbourne on Monday 21 July and Tuesday 22 July 2008 respectively. The focus of the session was on the tax aspects of the Green Paper, which included an outline the preferred position for the tax treatment of permits, and to inform stakeholders on consultation on the tax design process. Representatives from both the Australian Taxation Office and Department of Climate Change were also in attendance.

Following the Sydney briefing on Monday 21 July 2008 members of the Taxation Institute’s Climate Change Subcommittee, chaired by Judy Morris FTIA (KPMG, Sydney), met with representatives from both the Treasury and Department of Climate Change to further explore the unresolved tax issues arising from the Green Paper.

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