Penny Wong (SA, Australian Labor Party, Minister for Climate Change and Water) Share this | Hansard source

by leave—I move government amendments (1) to (8) on sheet BE204 together:

(1)    Schedule 2, item 19, page 83 (after line 30), after paragraph 420-15(3)(a), insert:

           (aa)    Part 8A (coal mining) of that Act; or

(2)    Schedule 2, item 19, page 94 (line 9), omit “(emissions-intensive trade-exposed assistance program)”, substitute “(certain free Australian emissions units)”.

(3)    Schedule 2, item 19, page 96 (lines 11 to 13), omit subsection 420-55(6), substitute:

Certain free Australian emissions units

        (6)    This section has effect subject to section 420-58 (certain free Australian emissions units).

(4)    Schedule 2, item 19, page 98 (lines 3 to 5), omit subsection 420-57(9), substitute:

Certain free Australian emissions units

        (9)    This section has effect subject to section 420-58 (certain free Australian emissions units).

(5)    Schedule 2, item 19, page 98 (line 7), omit “emissions-intensive trade-exposed assistance program”, substitute “certain free Australian emissions units”.

(6)    Schedule 2, item 19, page 98 (lines 11 to 14), omit paragraph 420-58(1)(a), substitute:

             (a)    either:

                   (i)    it was issued to you in accordance with the emissions-intensive trade-exposed assistance program (within the meaning of the Carbon Pollution Reduction Scheme Act 2009); or

                  (ii)    it was issued to you in accordance with Part 8A (coal mining) of that Act; and

(7)    Schedule 2, item 19, page 100 (after line 8), after paragraph 420-65(3)(a), insert:

           (aa)    Part 8A (coal mining) of that Act; or

(8)    Schedule 2, item 19, page 101 (after line 23), after paragraph 420-70(3)(a), insert:

           (aa)    Part 8A (coal mining) of that Act; or

These amendments are consequential to the government’s Coal Sector Adjustment Scheme, as free emissions units are to be allocated under that scheme and the income tax treatment of those units needs to be addressed. The amendments will ensure that free emissions units issued for coalmining will receive the same income tax treatment as units issued under the emissions-intensive trade-exposed assistance program.

Question agreed to.

by leave—I move government amendments (1) to (4) on sheet BE219 together.

(1)    Schedule 2, item 19, page 84 (after line 13), after subsection 420-15(5), insert:

     (5A)    You cannot deduct under this section expenditure you incur in becoming the ^*holder of an ^*Australian emissions unit issued to you in accordance with the domestic offsets program (within the meaning of the Carbon Pollution Reduction Scheme Act 2009) unless you incur the expenditure in preparing or lodging an application under that program for free Australian emissions units.

(2)    Schedule 2, item 19, page 100 (after line 27), after subsection 420-65(5), insert:

     (5A)    Subsections (1) and (2) do not affect the application of a provision of this Act outside this Division to expenditure you incur in becoming the ^*holder of an ^*Australian emissions unit issued to you in accordance with the domestic offsets program (within the meaning of the Carbon Pollution Reduction Scheme Act 2009) if you do not incur the expenditure in preparing or lodging an application under that program for free Australian emissions units.

(3)    Schedule 2, item 19, page 101 (line 27), omit “Act.”, substitute “Act; or”.

(4)    Schedule 2, item 19, page 101 (after line 27), at the end of subsection 420-70(3) (before the notes), add:

             (e)    the domestic offsets program (within the meaning of that Act).

These are amendments that are consequential to the domestic offsets program provided for in the main bill. The amendments will ensure that free emissions units issued under the domestic offsets program will be given the same tax treatment as free emissions units issued for reforestation.

Question agreed to.

Bill, as amended, agreed to.

Australian Climate Change Regulatory Authority Bill 2009 [No. 2]

Bill—by leave—taken as a whole.

by leave—I move government amendments (1) and (2) on sheet AL233 together:

(1)    Clause 18, page 11 (line 7), omit “instruments.”, substitute “instruments;”.

(2)    Clause 18, page 11 (after line 7), at the end of subclause (2), add:

             (k)    public administration.

These amendments expand the appointment criteria for membership of ACCRA, the Australian Climate Change Regulatory Authority, by adding public administration as one of the requirements. They also substitute ‘instruments.’ for ‘instruments;’. Apparently it is a semicolon versus a full stop.