Carbon pricing mechanism repeal
The Clean Energy Legislation (Carbon Tax Repeal) Act 2014 has repealed the Clean Energy Act 2011. This abolishes the carbon pricing mechanism from 1 July 2014.
Liable entities must still meet their carbon price obligations for the 2013-14 financial year, including reporting their emissions number to the Clean Energy Regulator under section 22A of the National Greenhouse and Energy Reporting Act 2007 by 31 October 2014, and acquitting their final carbon price liability for 2013-14 by 2 February 2015.
The Government has also abolished the Jobs and Competitiveness Program effective 1 July 2014. Further information on this can be found on the Jobs and Competitiveness Program page.
Acquitting liability for the 2013-14 financial year in ANREU
The Australian National Registry of Emissions Units (ANREU) is a secure electronic system designed to accurately track the location and ownership of:
You (organisations or individuals) are required to have an ANREU account if:
- you have an emissions liability,
- you need to hold (own) or transact in (transfer, cancel, surrender, relinquish) ACCUs, carbon units or Kyoto units in Australia, or
- you are going to receive free carbon units under the Jobs and Competitiveness Program.
The Australian National Registry of Emissions Units Act 2011 (ANREU Act) and the Australian National Registry of Emissions Units Regulations 2011 (ANREU Regulations) provide the legislative support for the administration of ANREU and are consistent with the Kyoto Protocol rules.