Business Services Industry

Experts want ATO to clarify implications of carbon trading.

Australasian Business Intelligence, April, 2007

Byline: Peter Hannam

Apr 22, 2007 (The Age - ABIX via COMTEX) -- Tony Baxter, of PricewaterhouseCoopers, is concerned that the tax consequences of a carbon trading system have not been clarified. Baxter has suggested that the viability of renewable energy projects such as wind farms and hydroelectric power plants may depend upon the operators of such projects knowing when they are going to be taxed on carbon credit income. He has also called for the Australian Taxation Office or the Australian Government to clarify whether groups will be entitled to a tax deduction for becoming "carbon neutral". Tony Beck, of the Australasian Emission Trading Forum, claims that the creation of a carbon trading system will ultimately require that changes be made to Australia's...

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