29/07/2010 - 00:00

Labor green scheme to generate jobs

29/07/2010 - 00:00

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Labor green scheme to generate jobs

The Green Building Council of Australia has welcomed the Labor Party’s proposed ‘Tax Breaks for Green Buildings’ program, which it says will motivate building owners to reduce greenhouse gas emissions.

The Labor Party announced last week that it would introduce an incentive for businesses that invest in eligible assets or capital works to improve the energy efficiency of existing buildings.

The incentive will enable businesses to claim a one-off bonus tax deduction of 50 per cent of the cost of the eligible assets or capital works.

GBCA chief executive Romilly Madew said the scheme, which would apply from July 1 2011, would create a significant number of jobs, boosting a “green collar” workforce.

“A retrofitting program will do more than reduce greenhouse gas emissions,” Ms Madew said.

“Research from Davis Langdon has found that retrofitting a significant quantity of commercial stock will support the growth of green skills and has the potential to create jobs for more than 10,000 people in the building and construction industry."

 

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