Concerns over proposed state tax

There are concerns a proposed tax legislation could make it difficult to attract investment in renewable energy.

Legislation before Victoria’s Parliament has a little known amendment to the State’s Valuation of Land Tax, to clarify any items fixed to land must be included when assessing Capital Improved Value.

Under the proposal, landowners in the state with wind farms, solar panels and large-scale batteries, could be hit with more tax.

The Clean Energy Investment Group believes the levy paid by property owners with renewable energy projects could be up to 25 times higher under the plan.

Image: https://pixabay.com/photos/solar-panels-solar-energy-8244680/