The recent approval of Thailand’s Securities and Exchange Commission (SEC) for the establishment of carbon credit funds in Thailand to raise money to help businesses seeking to reduce their emissions, is part of the global move towards incentivizing clean energy. In Australia, the Government has introduced a Climate Change Plan to transition Australia to a clean energy economy with the proposed introduction of a carbon price mechanism along with a significant package of complementary measures and assistance for business and households. This KPMG Publication provides a summary of the assistance packages made available by the Australian Government to support business to make the transition to carbon pricing, including grants, loans, tax deductions and other incentives.
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- Commencement date of 1 July 2012.
- Fixed carbon price for the first 3 years – $23 in Year 1 up to $25.40 in Year 3.
- A flexible carbon price will be introduced on 1 July 2015, which will be determined through an emissions trading scheme (ETS).
- Assistance will be provided to businesses and households through a range of mechanisms.
- All revenue raised from the sale of carbon permits will be used to encourage investment in clean energy activities and ease the cost burden of transition.