Australia’s carbon tax
Progressing through parliament
On 12 October 2011, the Clean Energy legislative package was passed by the House of Representatives, and is progressing towards becoming law after now moving to the Senate.
The package of Bills would put a price on carbon pollution for the first time in Australia for large users of specified transport fuels in certain circumstances applying from 1 July 2012, with opt-in arrangements available from 1 July 2013 for large users of specified transport fuels in certain circumstances.
This update considers the scope of the carbon pricing mechanism and the entities that would become liable, as well as the tax treatment of permits once the mechanism transitions to a flexible price cap-and-trade emissions trading scheme on 1 July 2015.