Tax Breaks for Green Buildings
From 1 July 2011, businesses that invest in eligible assets or capital works to improve the energy efficiency of their existing buildings – from 2 stars or lower to 4 stars or higher – will be able to apply for a one-off bonus tax deduction.
The incentive will enable businesses to claim a bonus tax deduction of 50 per cent of the cost of the eligible assets or capital works.
This initiative is expected to provide a boost of around $1 billion over the life of the scheme to help 'green up' existing buildings right across the country. It will help unlock significant energy efficiency by giving businesses a clear incentive to save energy in their buildings.
This initiative is part of the Gillard Labor Government's plan to make positive changes to how we live, work and travel.
Tax Breaks for Green Buildings
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