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Tax Breaks to Make Your Building Green
From 1 July 2011, the Tax Breaks for Green Buildings scheme will offer 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 – the ability to apply for a one-off bonus tax deduction of 50 percent of the cost of these improvements. The consultation paper has been prepared to explain the key features of the proposed program design, in particular, the eligibility criteria and assessment and certification processes. "Stakeholder input and comment is essential in helping the Government to understand the needs and constraints of the targeted building sectors, and will be important in evaluating the merits of proposed options in the paper," Mr Dreyfus said. “The Tax Breaks for Green Buildings scheme is expected to provide a boost of around $1 billion over the life of the scheme to help ‘green up’ existing buildings across Australia,” Mr Shorten said. “The Government is keen to ensure that industry stakeholders and the general public have the opportunity to participate in developing the Tax Breaks for Green Buildings program, an election commitment announced in July 2010,” Mr Shorten said. The consultation paper has been prepared to explain the key features of the proposed program design, in particular, the eligibility criteria and assessment and certification processes. “Tax Breaks for Green Buildings will unlock energy efficiency opportunities in existing buildings by providing businesses with a clear incentive to do so. The Government is committed to working with building owners to improve energy efficiency for a clean energy future,” said Mr Dreyfus. Enigin has successfully won multiple Green Building Fund Grants for clients in Western Australia and designed and delivered programs to increase NABERS ratings for commercial base buildings and tenancies from 2 to 5 stars. If you are considering any works on your commercial office building, retail shopping centre and business hotels and would like to access the financial benefits of this new initiative contact us for an obligation free consultation.
Friday 28th January 2011
