The Australian Government has repealed the Carbon Tax with effect from 1 July 2014. The Carbon Tax repeal legislation received the Royal Assent on 17 July 2014 and the bills, as part of this package, are now law.
In anticipation of the repeal, the government reviewed funding arrangements related to the Carbon Tax in 2013, and is not proceeding with any new projects under the Carbon Farming Futures program.
Through its Direct Action Plan, the government will introduce a mix of new policies, including the Emissions Reduction Fund. The Emissions Reduction Fund will build on the existing Carbon Farming Initiative (CFI) and provide ongoing opportunities for farmers and land managers to participate in emission reduction projects.
Projects already funded under the Carbon Farming Futures program will support the transition to the Emissions Reduction Fund by continuing to deliver research, on-farm trials and communication of activities that support emissions reductions under the CFI.
For information about projects, please follow the links below:
The Carbon Farming Futures program is ensuring that advances in land management technologies and techniques for emissions reduction and adaptation will lead to enhanced productivity and sustainable land use under a changing climate. These advances will allow farmers and land managers to benefit from the economic opportunities of the Carbon Farming Initiative (CFI) while assisting Australia in achieving its long term emission reduction targets.
The program is creating new opportunities for land managers to enhance productivity, gain economic benefits and help the environment by reducing greenhouse gas emissions. Actions to reduce greenhouse gas emissions or increase carbon storage can also increase the land sector's resilience to climate change, protect Australia's natural environment and improve long term farm productivity.
The Department of Agriculture is responsible for delivering four components of the Carbon Farming Futures program:
- Filling the Research Gap - supporting research into new technologies and practices for land managers to reduce emissions and store carbon in the landscape. The program also funds a biennial national survey to identify existing land management practices.
- Action on the Ground - assisting industry and farming groups to test and apply research outcomes in real farming situations.
- Extension and Outreach - providing technical information and support to assist farmers, land managers and their key influencers to participate in land sector emissions management activities and the CFI.
- Conservation tillage refundable tax offset - provided a 15 percent refundable tax offset for new eligible conservation tillage equipment and was jointly delivered with the Australian Taxation Office. As part of the repeal of the Carbon Tax, the government discontinued this initiative as of 1 July 2014. The department is therefore no longer issuing Research Participation Certificates.