SOIL CARBON GETS BOOST IN FEDERAL BUDGET!
May 13, 2015 Louisa Kiely
Good Morning! Always a big night, the old budget night!
Got to say I was bit underwhelmed until we came to the bit of the write off in first year for infrastructure – around the $20K mark – And write offs for fencing/dams/tanks.
OK, so we need the detail, but go with me on this –
1. So, you want to put in a Soil Carbon project – and potentially bid into the next round of the Emissions Reduction Scheme- which you will learn all about at the National Carbon Farming Conference 7-10th July in Albury click here.
TIME IS OF THE ESSENCE TO GET ORGANISED FOR THE NEXT AUCTION. Which, in all likelihood be before end of year – especially if the speculation of an early election is correct!
2. The bid which has won a Government contract to deliver 3.4 million tonnes of increased soil carbon is based around grazing management. This write off will help make those changes.
3. You’ve decided to implement grazing management changes to effect the increase as part of your strategy- which involves some new fencing and tanks. Now you write off the cost of that in year one.
4. BINGO! You gain the proven productivity increases from grazing management, this helps to drought-proof your farm and now you have the potential to be paid for the carbon you store. So, the Budget HAS given soil carbon a boost! Given it a tax break, in effect.
5. REMEMBER – You may now be able to put in a project using more than one method – Want to replace a stationary pump for around the $20K mark write off – and potential to gain a carbon credit as well? (but the Government does like BIG amounts of carbon – every bit helps)
Plus, at CONFERENCE we’ll be talking more about what else is happening in the ‘make measurement cheaper’ space. What’s happening in Queensland for instance?
We’ll announce a public/private research initiative AND we’ll ask for some help for those in Nepal. More soon………..
NOTE: Early Bird Registration Closes 18th May for conference.
As ever, please don’t hesitate to give me a bell with any queries. I’m on 02 6374 0329.