Within the Budget, the Government has abandoned the tax breaks for green building upgrades that they had flagged for commencement on 1st July 2012.

For some time, their rhetoric had been; “we have a $billion contribution to energy efficiency”. Whilst the promised accelerated depreciation for green retrofits may not have changed behaviour to a great degree – given the up to 3 year wait required toreap the benefit – this about-face is significant as it displays a lack of real commitment to the carbon reduction agenda.

Energy efficiency improvements to the existing building stock is the single most cost effective and fastest way to reduce our collective carbon footprint. Continue reading →