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20 Jan 11 Consultation on tax breaks for Green Buildings scheme

In joint media release No 2011/011, issued 20 January 2011, the Assistant Treasurer and Minister for Financial Services and Superannuation, Bill Shorten, and the Parliamentary Secretary for Climate Change and Energy Efficiency, Mark Dreyfus, announced the release of a new public consultation paper on tax breaks for redevelopments that they say will substantially improve the energy efficiency of existing buildings.

From 1 July 2011, the Tax Breaks for Green Buildings scheme will offer businesses that invest in eligible assets or capital works to improve the energy efficiency of their existing buildings – from 2 stars or lower to 4 stars or higher – the ability to apply for a one-off bonus tax deduction of 50% of the cost of these improvements.

Submissions on the consultation paper close on 18 February 2011.


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