The Australian Government’s decision to delay the start of the Tax Breaks for Green Buildings program is actually a good thing, according to the Green Building Council of Australia (GBCA).
"The GBCA strongly supports any incentive to retrofit existing buildings, as this is one of the most cost-effective carbon abatement opportunities available," says the GBCA's Chief Executive, Romilly Madew.
"For this reason, it is vital that the Tax Breaks for Green Buildings program is well-informed, well considered and has the benefit of thorough consultation behind it."
The program, an election commitment of the Gillard Government, will provide an incentive for businesses that invest in eligible assets or capital works to improve the energy efficiency of their existing buildings.
The incentive will enable businesses to claim a one-off bonus tax deduction of 50 per cent of the cost of the eligible assets or capital works. The scheme was expected to commence from 1 July 2011, but has now been delayed until 1 July 2012.
"We believe the $1 billion dollar program will provide long-term benefits to the industry, and so must be carefully considered as part of an integrated strategy to improve the environmental performance of Australia's buildings.
"To capitalise on the carbon abatement opportunities of Australia's built environment, the Tax Breaks for Green Buildings program must be as inclusive as possible, to ensure the largest possible number of Australia's buildings can benefit.
"The existing building challenge is one of the five priorities of our 'green building agenda', which the GBCA has developed to encourage all parties to commit to green buildings, communities and cities. We look forward to engaging with the Australian Government to ensure the program is effectively implemented on 1 July 2012," Madew concludes.
The five priorities are available online: www.gbca.org.au/advocacy
