News

The Government announced on 20 April that  it 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.

The Fifth Estate has published an article by Apex's Nicola Woodward on the proposed green building tax breaks. Read it here.

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
 

Our Brisbane office has now reopened for business. To those throughout Queensland affected by the floods, our thoughts are with you.

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.

Under the new Building Energy Efficiency Disclosure Act 2010, there will now be a transition period for the first twelve months for the Commercial Building Disclosure (CBD) program.

The Building Energy Efficiency Disclosure Act 2010 commences in July 2010 but the disclosure obligation does not commence until 01 November 2010.

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.

Income Tax (Effective Life of Depreciating Assets) Amendment Determination 2010 (No 1) has been released today outlining a number of new effective lives for various assets.