Carbon tax legislation passed
Posted on: 08/11/2011
Carbon tax bills pass Senate
The Government's Clean Energy legislation today [Tue 8.11.2011] passed the Senate without amendment. The Bills effectively await Royal Assent - they comprise:
- Clean Energy Bill 2011 - sets out the structure of the carbon pricing mechanism, including entities and emissions that are covered by the mechanism;
- Clean Energy Regulator Bill 2011;
- Climate Change Authority Bill 2011;
- Clean Energy (Consequential Amendments) Bill 2011 - makes amendments concerning the income tax and GST treatment of emissions units. The Bill also establishes the Conservation Tillage Refundable Tax Offset;
- Clean Energy (Unit Shortfall Charge-General) Bill 2011, Clean Energy (Unit Issue Charge-Fixed Charge) Bill 2011, Clean Energy (Unit Issue Charge-Auctions) Bill 2011, Clean Energy (Charges-Excise) Bill 2011, Clean Energy (Charges-Customs) Bill 2011, Clean Energy (International Unit Surrender Charge) Bill 2011;
- Ozone Protection and Synthetic Greenhouse Gas (Manufacture Levy) Amendment Bill 2011 and Ozone Protection and Synthetic Greenhouse Gas (Import Levy) Amendment Bill 2011;
- Clean Energy (Excise Tariff Legislation Amendment) Bill 2011 and Clean Energy (Customs Tariff Amendment) Bill 2011;
- Clean Energy (Fuel Tax Legislation Amendment) Bill 2011;
- Clean Energy (Household Assistance Amendments) Bill 2011, Clean Energy (Tax Laws Amendments) Bill 2011 and Clean Energy (Income Tax Rates Amendments) Bill 2011 - implements the household assistance measures, including payment increases for pensioners, allowees and family payment recipients, and new supplements for low and middle-income households.
At the time of going to press, the Steel Transformation Plan Bill 2011 was still before the Senate. The Bill proposes to implement various assistance measures to support the steel manufacturing industry in a "low carbon economy".