Taxing Carbon
From our September 2011 issue
The tax on everyone’s minds lately has been the carbon tax, details of which were announced by the government recently.
It is important to remember that, for all the press coverage on this issue, the “carbon tax” will only need to be paid by a handful of taxpayers.
While the tax (if it is implemented as announced as of 1 July 2012) may be borne by your business indirectly (in the form of higher prices for certain inputs), you will likely not have to undertake any significant compliance efforts in respect of this tax (unlike, for example, in relation to the GST).
However, the handful of tax changes announced as part of the carbon tax package (including changes to the personal income tax thresholds, as well as compensation payments and tax benefits) may require more careful attention.
This information is for guidance only and is not intended as specific advice to any reader. Professional advice should be obtained before acting on any information contained herein. The publisher accepts no responsibility for loss occasioned to any person or organisation as a result of action or the refrain of action as a consequence of the contents of this publication.