Labor Promises Tax Breaks for Green Buildings

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. The start date of 1 July 2011 is probably enough to ensure that some projects planned for Financial Year 2010-2011 will be placed on hold until after the election is held.