Carbon Pricing Act 2018 · 2020 Revised Edition · Part 5 · Carbon Pricing
20C. Reduction of reckonable GHG emissions chargeable to tax
Feedback & supportLast amended by an amending law of 2022.
Despite section 16(3), where a taxable facility is eligible for any allowance for any emissions year, the amount of the tax chargeable under section 16(1) for that emissions year is calculated based on the formula (A – C) × B, where —
taxable facility
“taxable facility” means a business facility that is registered as a taxable facility under section 7;
A and B have the meanings given by section 16(3)(a) and (b), respectively;
C is the allowance for the taxable facility for the emissions year; and
allowance
“allowance”, in relation to a taxable facility that is eligible for an allowance for an emissions year, means the amount by which the total amount of reckonable GHG emissions of the taxable facility in the emissions year may be reduced for the purpose only of determining the amount of the tax chargeable for the emissions year, in accordance with an award of allowances given by the Minister under section 20E;
(A – C) is rounded up to the nearest metric tonne.