DMRE Carbon Offset Workshop

The Department of Mineral Resources and Energy (DMRE) hosted a workshop on the Carbon Offset process in terms of the Carbon Tax. Taxpayers can reduce their carbon tax burden by up to 10% through the use of carbon offsets. To manage the listing and usage of offsets, the DMRE developed the online Carbon Offset Administration System (COAS). The workshop outlines the procedure of offset project approval, offset listing, transfer of ownership and offset retirement through COAS. As well as, the administration of claiming an offset allowance in the tax submission. Furthermore, the presentation outlines the implementation and design of the Carbon Tax. This includes the policy intent, rationale and principle of the carbon offset system and the specific rules as per the legislation. Therefore, the presentation is useful for offset developers or taxpayers purchasing offsets.

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Carbon Tax Offset Regulations Nov19