by Brianna Crandall — February 14, 2011—The Australian Government’s new Tax Breaks for Green Buildings program will improve the energy efficiency of buildings, reduce greenhouse gas emissions and support the nation’s shift to sustainability, says the Green Building Council of Australia (GBCA).
The Australian Government has released a consultation paper calling for industry feedback on the proposed scheme. From July 1, 2011, it is proposed that businesses that invest in eligible assets or capital works to improve the energy efficiency of their existing buildings would be eligible to apply for a one-off bonus tax deduction of 50 percent of the cost of these improvements.
“We applaud the Australian Government’s ‘carrot and stick’ approach, which will deliver rewards through the Tax Breaks for Green Buildings program while also mandating the disclosure of commercial offices’ energy efficiency through the Commercial Building Disclosure program,” says GBCA’s Executive Director, Robin Mellon. “It is particularly important to strike a balance between contemporary regulation and incentives.
“It’s also vital that federal and state governments widen their focus beyond energy efficiency. Sustainability is about more than just energy efficiency, and encompasses greenhouse gas emissions, water, waste, indoor environment quality and many other factors,” adds Mellon. A range of metrics, used both nationally and internationally, can be used to track efficiency, improvements and performance of green buildings, notes GBCA.
The GBCA is currently developing a Green Star rating tool which can assess the sustainability of existing buildings. Green Star – Performance will address all nine Green Star environmental impact categories, including management, transport, indoor environment quality, land use and ecology, emissions, materials and innovation. The tool is expected to be launched in 2012.
