Legislation: More draft carbon tax regulations released for comment

Comment is sought by 17 January 2020 on two sets of draft regulations giving practical effect to trade exposure allowance and emissions intensity benchmark incentive allowance provisions in sections 10 and 11 respectively of the 2019 Carbon Tax Act, reports Pam Saxby for Legalbrief Policy Watch. A summary of the proposed new regulations sets out the methodology to be followed in determining the allowances envisaged. According to an accompanying media statement, final regulations will be gazetted during the first quarter of 2020 and will be aligned with the Department of Environment, Forestry & Fisheries greenhouse gas emissions reporting period. The statement summarises the consultative process followed in developing the proposed new regulations and stakeholder input underpinning them – somewhat belatedly providing similar background information on carbon offset allowance regulations gazetted on Friday and retrospectively effective since 1 June.