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Tax breaks for green buildings
Released 18 February 2011

A public consultation paper on a new program to improve the energy efficiency of existing buildings has been released.   

The consultation paper is designed to inform stakeholders about, and garner feedback on, the legislative and policy design of the Tax Breaks program.

From 1 July 2011, the Tax Breaks for Green Buildings scheme will offer businesses that invest in eligible assets or capital works to improve the energy efficiency of their existing buildings – from 2 stars or lower to 4 stars or higher – the ability to apply for a one-off bonus tax deduction of 50 percent of the cost of these improvements.

The consultation paper has been prepared to explain the key features of the proposed program design, in particular, the eligibility criteria and assessment and certification processes.

The Tax Breaks program will be available for eligible capital expenditure which is incurred as part of a qualifying retrofit of an existing office building, hotel or shopping centre that is currently covered by the National Australian Built Environment Rating System (NABERS) scheme.

The Tax Breaks program was announced as part of the Federal Government's 2010 election commitment.

Submissions should be made by 18 February 2011 to the Department of Climate Change and Energy Efficiency.