Government introduces carbon tax repeal Bills into parliament
The Australian Government yesterday introduced a package of Bills into parliament to repeal the carbon tax. The bills and their accompanying Explanatory Memorandums are available on the Parliament of Australia website.
The government last month released exposure drafts of the legislation for public consultation, which closed on 4 November. The consultation paper, exposure drafts and public comments can be found at http://www.environment.gov.au/carbon-tax-repeal/consultation.html.
Compliance requirements for liable entities remain the same until the legislation changes. Liable entities must surrender enough eligible emissions units to match the emissions number they reported to the Clean Energy Regulator by 3 February 2014 or they will incur a unit shortfall charge.
Further information on the repeal of the carbon tax is available on the Department of the Environment website.
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