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Tax and climate change – new horizons for tax practitioners


An international greenhouse gas abatement regime is likely to be enacted in one form or another very soon. It is highly likely that some form of tax will be an important part of that regime, at least initially, and it will not be a mere “nuisance tax”. In the absence of a tax component, there is a real risk that the fiasco of the European Union Emissions Trading Scheme will be repeated. Important issues of tax design need to be resolved and the application of conventional principles to a tradable credits regime will present some difficulties in the absence of statutory intervention.

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Author Photo - David RUSSELL
David is admitted to practice in New South Wales, Queensland, Victoria, the Northern Territory, the Australian Capital Territory, New Zealand, Papua New Guinea and the Courts of Dubai International Financial Centre. He was first appointed Queen’s Counsel in 1986 and holds that office in all the above Australian jurisdictions. He currently practices in Sydney (Ground Floor Wentworth Chambers) and Brisbane (Sir Harry Gibbs Chambers) with a principal focus on revenue law generally. He has acted for Commonwealth and State Governments as well as individuals and corporations. He has had a long connection with the Taxation Institute of Australia including being its President from 1993 to 1995 and President of the Asia Oceania Tax Consultants Association from 1996 to 2000.
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