Investment certainty greatly improved following Capital Gains Tax agreement in the Senate

The announcement that a 15 per cent Capital Gains Tax rate will be extended out to 2040 provides a long term signal that aligns with project development and planning timelines. 

“We’re grateful for the supportive and constructive negotiations between the Albanese Government and the Greens led by Senator McKim that have been taking place and the recognition of how important this issue is to ensuring new electricity generation gets built as quickly as possible,” Clean Energy Council CEO Jackie Trad, said.

“Confidence is fundamental in a globally competitive investment environment and today’s announcement provides certainty about Australia as an investment destination,” she said.

With Australia’s existing fleet of coal power stations reliably breaking down and a majority due to close over the next nine years, foreign investment is essential to ensuring new electricity generation projects are stood up and built in time.

“Australia’s relatively small pool of local capital compared to the rest of the world is not enough to provide for our increasing needs. The agreement struck today ensures that Australia’s reputation as a country welcoming of investment and job creation remains front and centre,” Ms Trad said.

“Australia’s electricity needs are growing and the rate of new generation and transmission needs to keep pace with it otherwise we run the risk supply not keeping pace with demand.”

ENDS

For more information or to arrange an interview, please contact: 

Liam Straughan
Clean Energy Council Media Officer

+61 409 470 683