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Emissions trading and tax: A trans-Tasman perspective
Published on 01 Sep 12 by "TAXATION IN AUSTRALIA" JOURNAL ARTICLE
The carbon price commenced in Australia on 1 July 2012, and will transition to an emissions trading scheme on 1 July 2015. New Zealand has had an emissions trading scheme since 2008. In December 2011, Australia and New Zealand agreed to strengthen the links between their emissions trading schemes, although little detail is available so far and it is clearly a work in progress. The Australian rules may in future allow units issued under the emissions trading scheme in New Zealand to meet Australian carbon price liabilities. Likewise, New Zealand’s emissions trading scheme may in future include Australian carbon units.
This article provides an overview and comparison of the Australian carbon price and New Zealand’s emissions trading scheme from a taxation perspective. The article concludes that, while there is broad consistency in approach from a taxation perspective, further work will be needed for the schemes to operate seamlessly together.
Author profile
Joanne Dunne CTA
Joanne Dunne, CTA, is a Director at
PwC, Melbourne. She was formerly
a tax partner at law firms in both
Australia and New Zealand. She has
more than 20 years tax experience in
general income tax, GST, international
tax and tax controversy. Joanne is a
member of a wide range of professional
organisations, including The Tax
Institute’s Tax Disputes Committee
(of which she is co-chair), and she
represents The Tax Institute on the
ATO’s Dispute Resolution Working
Group.
- Current at
01 November 2018
