Advice on Taxation & Accounting Treatment of Permit Allocation & Trading & Offset Credit Generation under NETS - NETT-2007-03

The successful consultant will be required to:

Identify and report on any relevant taxes and duties, including Capital Gains Tax (CGT), Income and Company Tax, Goods and Services Tax (GST) and State and territory duties that might apply to:

• Free allocation of emission permits by the Scheme Regulator to scheme participants;
  
• Purchase of emission permits from the Scheme Regulator at an auction;
  
• Purchase or sale of emission permits in the market;
  
• Generation and sale of offsets credits.

Identify potential differences in the tax and accounting treatment of permits by generators, who will be required to surrender permits to the scheme administrator for compliance, and trade-exposed energy-intensive industries, who will be allocated permits but not required to surrender them;

Provide analysis of the likely extent of liability of scheme participants for the allocation, purchase and sale of emissions permits and the generation and sale of offset credits in relation to each of these taxes and duties;

Clarify and explain the appropriate company accounting treatment of the allocation, sale and purchase of emissions permits and the generation and sale of offset credits under the scheme, in light of the tax analysis provided above. This is to include an explanation of how public companies might report permit or offset credit holdings and trades in their financial statements; and

Identify any other disclosure or reporting provisions applicable to participants that might be triggered by trade in permits or offset credits, or by holdings of permits or offset credits, such as ASX requirements.

Further information is available in the Terms of Reference, within the RFT documents.

NSW Regions: Central West, Far West, Hunter, Illawarra, Mid North Coast, Murray, Murrumbidgee, Northern, North Western, Richmond Tweed, South Eastern, Sydney

Open Tenders - An invitation to tender by public advertisement with no restriction placed on who may tender. Tenderers will normally be required to demonstrate in their tender that they have the necessary skills, resources, experience, financial capacity, and in some cases licences, accreditations, etc., to fulfil the tender requirements.

http://www.emissionstrading.net.au

Obtaining the RFT:

There is a full electronic (soft) copy of this RFT available for downloading.

From this Web Site - To download click on the blue DOWNLOAD A SOFT COPY Free link at the bottom of this page & follow the on screen instructions

For downloaded RFT & Lodgement IT and Software Requirements:
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Lodgement of your Tender Response:

Tenders are to be lodged by the Tenderers as described in the RFT and electronic lodgement is available at the blue LODGE A RESPONSE link at the bottom of this page.