World Business News

A round up of the latest news for those doing business internationally

Abbott has a second go at Carbon Tax repeal

Zone(s): Australia ¦ Sector(s): Carbon Taxation
[24 June 2014, Tax-News.com] by Mary Swire, Tax-News.com, Hong Kong: With time running out before the scheduled July 1 carbon tax rate hike, Australian Prime Minister Tony Abbott has reintroduced legislation to repeal the carbon tax. Addressing parliament, Abbott referred to the Coalition’s victory in September’s general election, claiming that the Australian people have already “pronounced their judgment against the carbon tax: they want it gone and this Bill delivers.”

He described the levy as a “toxic tax,” and said that scrapping it is “a cornerstone of this Government’s plan for a stronger economy, for lower taxes, for less regulation and for stronger businesses.” The Government has already been defeated once on its legislation in the Senate, thanks to the combined defiance of the Labor and Green parties.

More…