The Australian Parliament's lower house passed the momentous but contentious bill, which is believed to be the most wide-ranging carbon pricing system in the world.

Despite last-ditch attempts by the opposition to put off the passage of the bills and late petitions for amendments by certain business groups, the government passed the proposal by a very slim vote of 74 to 72.

The ratification means that Australia's biggest carbon emitters will be subjected to a pollution tax, set at a fixed price, before transitioning to an emissions-trading scheme in 2015.

The bill, which also provides industry compensation and tax cuts, has been extremely disliked by voters, Fox News said.

The bill will be endorsed by the Senate, where final approval is expected before the end 2011.

Its passage elicited conflicting opinions from people of all walks of life as gathered by the Sydney Morning Herald.

"Carbon pricing bills just passed the House of Representatives. An historic day as Australia begins its journey to a clean energy future," remarked MP David Bradbury.

"Windsor and Oakeshott sell out their people, they have put a Carbon Tax on Australia," said Senator John "Wacka" Williams.

Another senator exclaimed, "Australians can hold our heads high today as we finally start tackling the climate crisis and building a clean energy future."

Some reactions were favorable, some were like what an anonymous citizen said, "Many say no to carbon tax because they're thinking of their pockets and not as a step in the right direction towards a clean energy future!"

An interesting question thrown in said, "Will today's passing of the Carbon Tax bill affect the Aussie market today? Must admit the timing could have been better?"

These observations will certainly linger even as the enactment of the bills are seen as a decisive victory for Prime Minister Julia Gillard, whose popularity has gradually decreased.

The legislation implies that some 500 carbon-emitting companies in the country will pay a price for each ton of carbon. Most of the biggest emitters are electricity generating firms, mining companies and heavy industry manufacturers, according to reports from the Sydney Morning Herald.

The Gillard administration is reducing income taxes and increasing payments such as pensions and other benefits, as well as offering various lump sum payments to recompense households,

An average Australian household is expected to shell out an estimated $9.90 each week in extra living costs, including $3.30 on electricity. However this will be offset by an estimated $10.10 in extra benefits and tax breaks.