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Consultation Paper - Tax Breaks for Green Buildings


Thursday, 20 January 2011

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From 1 July 2011 businesses that invest in eligible assets or capital works to improve the energy efficiency of an existing building may be eligible to apply for a one-off bonus tax deduction.

The tax deduction will cover specified capital expenditure which is incurred as part of a qualifying retrofit of an existing office building, hotel or shopping centre. Eligible businesses will be able to claim a bonus tax deduction of 50 per cent of specified capital expenditure invested in energy efficiency improvements to the existing building.

The retrofit must be assessed by an accredited National Australian Built Environment Rating System (NABERS) assessor before and after the project. To be eligible for the tax break, the building must achieve an improvement in energy efficiency from 2 stars or lower to 4 stars or higher between 1 July 2011 and 30 June 2015.

The Tax Breaks for Green Buildings program complements other Australian Government programs such as the Commercial Buildings Disclosure program and the Green Building Fund. Action to improve the energy performance of Australia's building stock is an important step to achieving Australia’s emissions reduction objectives.

The Government will seek to introduce legislation establishing the Tax Breaks for Green Buildings program in the first half of 2011.

For more information on the consultation, including how you can participate, please visit www.climatechange.gov.au

Closing date for submissions: Friday, 18 February 2011

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