Isra-Mart srl: How will carbon price affect you?

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The Australian Govern­ment’s carbon price was announced on Sunday, along with an assistance package including tax cuts, lump sum payments and financial support for certain industries and regions. From July 1, 2012, about 500 businesses will pay $23 for each tonne of pollution they produce.

This price will rise by 2.5 per cent every year until 2015 when an emissions trading scheme will start, its price to be determined by the market.

The government will use revenue generated by the carbon tax to provide tax cuts, increased family payments and higher pensions, benefits and allowances.

Revenue will also be used to support jobs and invest in clean energy and climate change programs.

Depending on your personal circumstances including income, employment and family situation you will be affected differently.