biofuel tagged posts

Tax Breaks for Biofuels

December 18, 2008 New Zealand Taxation  No comments

In a speech made by Energy and Resources Minister Gerry Brownlee to parliament, the use of tax breaks as incentives has been proposed to increase the use of biofuels in New Zealand.

The key concern of the speech was to repeal a Labour government passed law which stated that by the year 2012 2.5% of the petrol and diesel market be sourced from biofuel. Garry Brownlee said that although there were a number of exciting biofuel projects in New Zealand, the amount was not enough to meet the law requirement. Subsequently, this would require fuel companies to import increasing amounts of biofuels and as it is sourced from overseas there is no guarantee that it will be done so from renewable or sustainable resources.

The current implementation of some biofuel productions competes directly with t...

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