Summary
Part of a package of 18 bills to implement a carbon pricing mechanism, the bill: makes consequential amendments to 11 Acts and the Financial Management and Accountability Regulations 1997; amends five taxation laws to establish the income tax and goods and services tax treatment of emission units; amends the
Income Tax Assessment Act 1997
to provide for a conservation tillage refundable tax offset; and makes transitional arrangements for the transfer of functions to the Clean Energy Regulator and the Climate Change Authority.