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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
Photo of author, Joanne DUNNE Joanne Dunne CTA is a Director at PwC, Melbourne. She is a former tax partner at law firms in both Australia and New Zealand. She has more than 20 years' tax experience in general income tax, corporate tax, international tax and tax controversy. She is recognised as a leading tax lawyer by a number of independent legal guides including Doyles Guide, and is a member of a wide range of professional organisations, including acting as co-chair of the Tax Institute's Tax Disputes Committee. - Current at 31 May 2017
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