21 Jul Carbon Tax
The Australian Labor Government has released details of its plans to put a price on carbon. From 1 July 2012, the scheme proposes to set a price of $23 for each tonne of carbon pollution released into the atmosphere by Australia’s biggest polluters. Around 500 businesses will be required to pay for their pollution under the carbon pricing mechanism. The carbon price scheme will transition to an emissions trading scheme on 1 July 2015. To assist households with price impacts, there will be tax cuts and increases in pensions, allowances and benefits.