Six tips for businesses to prepare for the carbon tax

Tim Pittaway, Principal of accounting fim RSM Bird Cameron shares his company’s advice on how businesses can pre-empt and better manage the impact of the carbon tax before it make sit’s Australian debut on July 1. 

Mr Pittaway said, “The task of transitioning to a low-carbon economy will place significant regulatory, market and reputational pressures on business. Businesses that do not manage carbon risks appropriately will fail to become compliant with emerging legislation or will not manage to collect quality emissions data or produce quality disclosure.”

RSM Bird Cameron outlines the following factors to be considered:

  • Identification of primary liability under the proposed Clean Energy Legislation
  • If the business has a primary liability under the Clean Energy Legislation
  • If the business does not have a direct impact or requirement to register
  • Industry assistance
  • Financial reporting and taxation impacts
  • Corporate governance and emissions measurement

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