Carbon Offsets and GST: Tax Implications for Australian Companies Explained
Australian carbon credit units (ACCUs) are exempt from the Goods and Services Tax (GST). When Australian companies buy ACCUs, they can treat it as a tax-deductible expense. However, these companies can only claim the deduction after they sell or surrender the ACCUs, ensuring regulatory compliance and effective financial planning. Under GST regulations, the sale of … Read more