An inconvenient tax system.
KPMG says businesses already taking steps to reduce their carbon footprint are finding that, unless they can clearly link their activities to generation of taxable income, the costs may not be tax-deductible under current rules. It recommends a raft of measures to kick-start development of low-emissions technologies, such as accelerated tax depreciation and an expanded R&D tax concession. It also advises companies to investigate existing accounting tools for managing their greenhouse emissions including the Greenhouse Gas Protocol (www.ghgprotocol.org) and the Carbon Disclosure Project (www.cdproject.net).
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|Article Type:||Brief article|
|Date:||Apr 1, 2008|
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