Bergeson & Campbell, P.C.

Australia reaches agreement to tax biodiesel and ethanol

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Courtesy of Courtesy of Bergeson & Campbell, P.C.

On June 17, 2015, the Australian government made a bipartisan agreement to tax Australian-produced biodiesel and ethanol. Cleaner fuel grants for renewable and biobased diesel fuels will end by July 1, 2015, as will the Ethanol production grant. An excise rate on biodiesel will be phased in starting in 2015-2016 at zero percent, and will increase annually, eventually reaching 50 percent of the diesel excise rate in 2030-2031. The Biofuels Association of Australia approved of the agreement, saying it will 'allow the industry to focus on the longer term and provides a sustainable footing for the biofuels industry to grow and delivers on the government objective of moving biofuels into the excise framework.'

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