Tax Breaks for Green Buildings

As part of the Gillard Government 2010 election commitment, the Department of Climate Change and Energy Efficiency (DCCEE) has released a consultation paper titled "Tax Breaks for Green Buildings". The consultation paper details proposed tax incentives for improving the energy efficiency of certain existing buildings (the Tax Breaks program).

Under the Tax Breaks program, successful applicants will be able to apply for a one-off bonus tax deduction of 50% for investments in eligible assets or capital works associated with the retrofitting of existing buildings to improve the energy efficiency rating under the existing National Australian Built Environment Rating System (NABERS).

Total funding for the Tax Breaks program is proposed to be up to $1.0 billion.

To read the full update please download the PDF.