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Australian households set to receive carbon tax compensation

Many australian households will receive financial assistance to help them cope with the impact of the carbon tax increase on electricity prices  16000646 800481346 0 0 7076041 300

Nearly all Australian households that earn less than $150,000 a year will receive financial assistance to help them cope with the impact of the carbon tax increase on electricity prices.

In an economic note delivered yesterday (June 24), federal treasurer Wayne Swan announced that the government would ensure that struggling families would get the support that they need. 

Swan said that recent Treasury analysis had indicated that over 98 per cent of families with incomes up to $150,000 will be in line to receive assistance with carbon tax price increases. 

The carbon tax is set to come into effect this Sunday (July 1), and will cause electricity prices to increase by upwards of 18 per cent in some states.

"It is not a choice between the economy and the environment, between jobs and pollution," said Swan.

"It's increasingly clear that in the years to come no first-rate economy can be anything other than a clean-energy economy,"

Families that want to completely minimise the impact of the carbon tax on their household bills might want to consider an electricity suppliers price comparison check, in order to ensure they are getting the best possible deal.

Posted by Charlie Moore