Part of a package of 11 bills to remove the carbon pricing mechanism, the bill: repeals the six Acts which established the carbon pricing mechanism; amends 13 Acts to make amendments consequent on the repeals; enables the payment and future enforcement of carbon tax liabilities for the 2012-13 and 2013-14 financial years; amends the:
Competition and Consumer Act 2010 to: prohibit carbon tax-related price exploitation and false or misleading representations about the carbon tax repeal; and provide the Australian Competition and Consumer Commission with additional price monitoring powers in relation to the repeal;
Clean Energy (Consequential Amendments) Act 2011 and
Income Tax Assessment Act 1997 to remove the conservation tillage tax offset; and
Australian Renewable Energy Agency Act 2011 to change the future funding for the agency; and repeals the
Steel Transformation Plan Act 2011 to cease carbon tax-related assistance to steel industry businesses.