The Government announced on 20 April thatit will conduct further consultations around the Tax Breaks for Green Buildings program to deliver the best outcomes for industry. In order to facilitate the further consultations with industry, the program will now come into effect on 1 July 2012.
Our Autumn newsletter is now available. In it we discuss the proposed Tax Break for Green Buildings, the sustainable retrofit potential for C and D grade office stock, the Australian office outlook and amendments to Commercial Building Disclosure scheme. Read more here
Due to the current weather conditions in Brisbane, our Queensland office is currently unable to open. If you have any queries, please do not hesitate to contact either Keith Merry on 0400 118 078 or Gary Baxter on 0403 850 972
Following through with promises back in July the Labor Government has further announced the implementation of Tax Breaks for Green Buildings. Implementation is estimated at $180 million over four years and an estimated total cost of over $1 billion out to 2018-19.
In a bid to prove their green credentials, the Australian Labor Party are promising a 50% one off tax deduction for expenditure on plant and capital works that improve a building's NABERS ratings from 2 or below to 4 and above.
With the passing of the Building Energy Efficiency Disclosure Bill 2010, the disclosure requirements under the Commercial Building Disclosure scheme (CBD scheme) will commence around October 2010. The Government will make this date known and finalise the regulations of the scheme in the coming weeks.