Abbott Government Releases Draft Carbon Tax Repeal Legislation

Getty/ Putu Sayoga

The Federal Government has published a draft bill to abolish the carbon tax as of 1 July and abolish the Climate Change Authority.

The draft legislation is accessible here. The Department of Environment is inviting public submissions on the draft by 15 October.

Prime Minister Tony Abbott told a press conference this afternoon that the bill would be the first to be considered by the new Parliament. The Herald Sun reports that a Senate hearing on the issue would likely occur before Christmas.

Abbott said the repeal would not be retrospective. From the draft:

Liable businesses and other entities must pay all carbon tax liabilities incurred up to 30 June 2014 through the carbon pricing mechanism, excise or excise-equivalent customs duty, fuel tax credit adjustments or synthetic greenhouse gas levies.

Liable businesses and other entities must pay their final carbon tax compliance obligations at the next payment time under the current legislated arrangements.

Industry assistance provided under the Jobs & Competitiveness Program and the Energy Security Fund will continue in 2013-14 for the purpose of meeting carbon tax liabilities.

The draft legislation was welcomed by the Australian Industry Group this afternoon.

“This is a welcome start to the dismantling of the carbon tax but much work still needs to be done around its impacts and the replacement scheme,” Ai Group CEO Innes Willox said.

“Since the carbon tax began in July last year it has imposed costs on Australian businesses and the broader community well in excess of the costs associated with efforts in other countries to reduce greenhouse gas emissions.”

Now read: Political Aspirant Clive Palmer Is Suing The Tax Office For A $90m Refund

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