On 11th July 2011 Prime Minister, Julia Gillard, announced that from 1 July 2012, the new carbon tax would apply. The Carbon Tax plan has been introduced in an attempt to cut pollution and provide an incentive to invest in renewable energy. The Government claims that a price on carbon is the most environmentally effective and economically efficient way to reduce pollution.
The Treasurer Wayne Swan, announced initiatives to help small businesses adjust to the carbon price. Most small businesses will not be materially affected by the carbon price, however, the Government will increase the small business instant asset write-off threshold to $6,500. The Government will also establish a $40 million program to provide information to small businesses and community organisations on practical measures they can take to reduce their energy costs.
For further details on how the Carbon Tax could affect you or your business go to: http://www.aph.gov.au/library/pubs/BD/2011-12/12bd005.pdf