Tax breaks for green buildings
As part of the 2012-13 Budget, the Government has decided not to proceed with the Tax Breaks for Green Buildings Program. Since 2010 there have been major changes to the policy environment, most notably the passage of the Clean Energy Future (CEF) package.
The carbon price is the key policy for cutting carbon pollution across the economy.
The business case for improving energy efficiency in commercial buildings is also growing stronger, with more evidence that it increases income, capital values and occupancy rates for commercial buildings. Given this, it is important that high levels of energy efficiency of commercial buildings become standard practice.
Under the CEF package support is available for retrofits of commercial buildings, for example through Low Carbon Australia and, upon its establishment, the Clean Energy Finance Corporation.
Not proceeding with this program will provide a saving of $405.2 million over the forward estimates.