Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search


Carbon tax interventions getting complicated

Carbon tax interventions getting complicated

Government interventions relating to the carbon tax are becoming very complicated, Business NZ says.

Chief Executive Phil O’Reilly said the run-up to the introduction of the regime in 2007 was not making the tax any easier to bear.

“First, the Government set up negotiated greenhouse agreements (NGAs) to give relief from the tax for high energy users – many companies have spent a lot of time and money jumping through the hoops to get an NGA, but only two have succeeded so far.

“Then it exempted farms from the methane tax, requiring an equivalent contribution to research instead.

“Now it has announced taxpayer-funded grants for selected small and medium sized companies to introduce energy efficient technologies. This means all companies must pay for grants which will be distributed to only a few. In other words, companies will be taxed to fund their competitors.

“All of this cross-subsidising activity is just to introduce a tax that isn’t necessary and which will make New Zealand companies overall less competitive than others overseas.

“Why not scrub the tax and introduce measures that would allow all businesses to make choices about how they approach a more energy efficient future, for example an accelerated depreciation regime on all capital equipment.”

© Scoop Media

Business Headlines | Sci-Tech Headlines


ScoopPro: Helping PR Professionals Get More Out Of Scoop has been a fixture of New Zealand’s news and Public Relations infrastructure for over 18 years. However, without the financial assistance of those using Scoop in a professional context in key sectors such as Public Relations and media, Scoop will not be able to continue this service... More>>

Insurance: 2017 Worst Year On Record For Weather-Related Losses

The Insurance Council of New Zealand (ICNZ) announced today that 2017 has been the most expensive year on record for weather-related losses, with a total insured-losses value of more than $242 million. More>>


Crown Accounts: Govt Books In Line With Forecasts

The Government’s financial statements for the four months to 31 October indicate the books are tracking along with Treasury’s Budget forecasts, Finance Minister Grant Robertson says. More>>


Expert Reaction: Ross Sea Region Marine Protected Area In Force

Sweeping new protections for Antarctica's Ross Sea will come into effect on Friday 1 December. After five years of debate, the marine protected area (MPA) was agreed in 2016 after a joint proposal by New Zealand and the United States... More>>