What is the purpose of tax incentives as outlined in the ATO Green Book?

The purpose of tax incentives, as outlined in the ATO Green Book, is to promote investment and economic growth. Tax incentives are strategic measures implemented by governments to motivate individuals and businesses to invest in certain areas, such as renewable energy, research and development, or economic initiatives in specific regions. By providing tax breaks, credits, or exemptions, these incentives lower the financial barriers to investment, encouraging businesses to expand their operations, contribute to job creation, and enhance the overall economy.

This approach contributes to a more favorable economic environment, which benefits society as a whole by increasing productivity and innovation. The goal of tax incentives is not to facilitate any unlawful practices or to undermine foreign investments, but to harness the power of financial incentives to drive sustainable economic progress.