SENATE PASSES CARBON TAX
Today, the Gillard government declared victory for a "historic economic reform" as the senate passed the carbon tax.
A $23 a tonne carbon tax will now be paid by about 500 high-emitting companies from next July, with about half the revenue to be returned to households in the form of tax cuts and increases in pensions and family payments, to compensate them as electricity generators pass through the cost of the new tax.
Another $9.2 billion over the first four years of the carbon pricing scheme will be paid to high-emitting industries with overseas competitors not subject to a tax. They will receive up to 94.5 per cent of their emission permits for free.
The carbon price is designed to meet the emissions reduction target endorsed by both major parties of at least 5 per cent by 2020, compared with 2000 levels. Labor is now promising to cut Australia's emissions by 80 per cent by 2050.
Solarmatrix welcomes the new price on carbon and is looking forward to a cleaner Australian future. To find out more how to protect your business against future electricity price rises please contact us.
