ABSTRACT
The sustainable approach should be for tax mechanisms and credit policies to favour conservation and re-use over new construction. Because heritage preservation is an important social and economic component of modern cultures, governments create incentives not only to promote non-profit and public heritage projects but also to encourage private efforts to stimulate the revitalisation of redundant sites or blighted areas and to promote sustainable practices through adaptive re-use. Once designated or certified by the Economic Assistance Coordinating Council, the deduction may be taken in addition to any other federal or common wealth tax or financial incentive available to developers. Tax credits and other incentives have been used successfully in the United States to promote and encourage the preservation of heritage that does not qualify for direct public funding. For best practice in the application of fiscal incentives for heritage conservation, the United States can serve as a good example.
