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Abbott 'Won't Rest' Until Carbon Tax Repealed

by Mary Swire, Tax-News.com, Hong Kong

06 May 2014


Australian Prime Minister Tony Abbott has said that his Government will not rest until the carbon and mining taxes have been abolished.

Speaking in Sydney, Abbott said that everyone would benefit from the planned repeal of the carbon tax. He added that the levy damages the economy without helping the environment, and costs the average household AUD550 (USD511) a year.

Abbott's comments came in the week that the Australian Competition and Consumer Commission (ACCC) announced that it had launched proceedings against a gas wholesaler accused of making false claims about carbon tax related price hikes. The ACCC is seeking pecuniary penalties, declarations, injunctions, publication orders, a compliance program, and costs.

The ACCC is charged with investigating businesses engaged in allegedly misleading conduct concerning the effect of the carbon tax. If the Government is successful in persuading the Senate to back its proposals, the ACCC will additionally monitor the prices of relevant goods and take action against businesses involved in price exploitation. In the meantime, it has been directed by the Treasurer to monitor the prices, costs and profits of supply of related goods, in order to assess the general effect of the carbon tax scheme.

ACCC Chairman Rod Sims said: "This case is a further demonstration of the role of the ACCC in scrutinizing claims made by all levels of business in relation to the introduction of the carbon tax, and taking enforcement action where appropriate. The ACCC will be equally vigilant in monitoring the practices of businesses following the repeal of the carbon tax, to ensure that consumers get the benefit of the repeal as quickly as possible."

TAGS: environment | compliance | tax | business | tax compliance | Australia | enforcement | tax rates | carbon tax | revenue statistics | tax reform | penalties

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