KPMG has outlined the key elements of the carbon tax.
- Commencement date of 1 July 2012.
- Fixed carbon price for the first 3 years – $23 in Year 1 up to $25.40 in Year 3.
- A flexible carbon price will be introduced on 1 July 2015, which will be determined through an emissions trading scheme (ETS).
- Assistance will be provided to businesses and households through a range of mechanisms.
- All revenue raised from the sale of carbon permits will be used to encourage investment in clean energy activities and ease the cost burden of transition.
- A six cents per litre litre diesel fuel tax. (Which effectively negates the diesel fuel rebates for the mining industry.)
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