50% Tax Break Deduction under new Green Buildings Scheme
28-Jun-2011The Assistant Treasurer has released a public consultation paper regarding tax breaks for redevelopments that will substantially improve the energy efficiency of existing buildings.
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 two starts or lower to four stars or higher – the ability to apply for a one-off bonus tax deduction of 50% of the cost of these improvements.
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