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This is a Bill, not an Act. For current law, see the Acts databases.
1998-1999-2000-2001
The
Parliament of the
Commonwealth of
Australia
HOUSE OF
REPRESENTATIVES
Presented and read a first
time
Excise Tariff
Amendment (Crude Oil) Bill 2001
No. ,
2001
(Treasury)
A Bill
for an Act to amend the Excise Tariff Act 1921, and for related
purposes
Contents
Part 1—Amendments relating to excise duty applicable to certain
crude oil 3
Part 2—Minor technical
amendments 9
A Bill for an Act to amend the Excise Tariff Act
1921, and for related purposes
The Parliament of Australia enacts:
This Act may be cited as the Excise Tariff Amendment (Crude Oil) Act
2001.
(1) Subject to subsection (2), this Act commences on the day on which
it receives the Royal Assent.
(2) Items 2 to 22 and item 24 of Schedule 1 to this Act are
taken to have commenced on 1 July 2001.
Subject to section 2, each Act that is specified in a Schedule to
this Act is amended or repealed as set out in the applicable items in the
Schedule concerned, and any other item in a Schedule to this Act has effect
according to its terms.
Part 1—Amendments
relating to excise duty applicable to certain crude oil
1 Subsection 3(3)
Omit “or 6D”, substitute “, 6D or 6E”.
2 Section 6AA
Repeal the section.
3 Subsection 6B(1) (definition of adjusted
previous year’s duty)
Omit “relevant oil”, substitute “old
oil”.
4 Subsection 6B(1) (definition of
non-adjusted previous year’s duty)
Omit “relevant oil”, substitute “old
oil”.
5 Subsection 6B(1)
Insert:
old oil means stabilised crude petroleum oil in respect of
which subparagraph 17(A)(2)(b) in the Schedule applies.
6 Subsection 6B(1) (definition of relevant
oil)
Repeal the definition.
7 Subsection 6B(1) (definition of threshold
price)
Repeal the definition.
8 Subsection 6B(1) (definition of threshold
quantity)
Repeal the definition.
9 Subsection 6B(1) (definition of variable
percentage)
Repeal the definition.
10 Subsection 6B(2)
Omit “relevant oil”, substitute “old
oil”.
11 Subsection 6B(3)
Repeal the subsection, substitute:
The amount of duty
Subject to subsection (3A), the amount of duty in respect of old oil
produced from a prescribed production area and entered for home consumption
during a month of a financial year commencing on or after 1 July 2001 is
the amount worked out using the formula:
where:
credited adjustment amount is the credited adjustment amount
(if any) for that area and that month, worked out in accordance with
subsection (5C).
debited adjustment amount is the debited adjustment amount
(if any) for that area and that month, worked out in accordance with
subsection (5B).
duty paid is the amount of duty (if any) paid in respect of
old oil produced from that area and entered for home consumption during the
period starting at the start of that financial year and ending at the end of
that month.
notional duty is the amount of notional duty in respect of
old oil produced from that area and entered for home consumption during the
period starting at the start of that financial year and ending at the end of
that month, worked out in accordance with subsection (4).
12 Subsection 6B(3A)
Omit “relevant oil”, substitute “old
oil”.
13 Subsection 6B(4)
Omit “relevant oil”, substitute “old
oil”.
14 Paragraphs 6B(4)(a), (b), (c), (d), (e) and
(f)
Repeal the paragraphs, substitute:
(a) the quantity (if any) of the oil that exceeds A ×
4B but does not exceed A × 6B; and
(b) the quantity (if any) of the oil that exceeds A ×
6B but does not exceed A × 8B; and
(c) the quantity (if any) of the oil that exceeds A ×
8B but does not exceed A × 10B; and
(d) the quantity (if any) of the oil that exceeds A ×
10B but does not exceed A × 12B; and
(e) the quantity (if any) of the oil that exceeds A ×
12B;
15 Subsections 6B(5A), (5AB) and
(5AC)
Repeal the subsections.
16 Subsection 6B(6)
Omit “relevant oil” (wherever occurring), substitute “old
oil”.
17 Paragraphs 6B(7)(a), (b), (c), (d), (e) and
(f)
Repeal the paragraphs, substitute:
(a) in the case of a quantity to which paragraph 4(a) applies—20%;
and
(b) in the case of a quantity to which paragraph 4(b) applies—30%;
and
(c) in the case of a quantity to which paragraph 4(c) applies—40%;
and
(d) in the case of a quantity to which paragraph 4(d) applies—50%;
and
(e) in the case of a quantity to which paragraph 4(e)
applies—55%.
18 Subsection 6B(8)
Omit “subsections (5), (5A) and (6)”, substitute
“subsections (5) and (6)”.
19 Subsection 6B(9)
Omit “relevant oil” (wherever occurring), substitute “old
oil”.
20 Subsection 6B(9A)
Repeal the subsection.
Note: The heading to section 6B is altered by omitting
“certain crude petroleum oil” and substituting “old
oil”.
21 Subsection 6C(3)
Omit “1 July 1997”, substitute “1 July
2001”.
22 Paragraphs 6C(7)(a), (b), (c) and
(d)
Repeal the paragraphs, substitute:
(a) in the case of a quantity to which paragraph 4(a) applies—10%;
and
(b) in the case of a quantity to which paragraph 4(b) applies—15%;
and
(c) in the case of a quantity to which paragraph 4(c) applies—20%;
and
(d) in the case of a quantity to which paragraph 4(d)
applies—30%.
23 Section 6E
Repeal the section, substitute:
(1) In this section:
applicable petroleum price has the same meaning as it has for
the purposes of section 6AB.
(2) For the purposes of this Act, the delayed-entry oil rate that applies
to delayed-entry oil from a particular prescribed source is the amount per
kilolitre ascertained in accordance with the formula:
where:
T is the applicable petroleum price in relation to the month
in which the operative day for that delayed-entry oil occurs and to the
production area constituting that prescribed source if the oil had continued to
be covered by section 6B, 6C or 6D, whichever is applicable, on and after
the operative day.
U is the number of dollars, calculated to 2 decimal places,
in the amount of the duties of Excise paid in respect of the crude petroleum oil
produced from that source that was entered for home consumption during the
pre-operative year for that source.
W is:
(a) if the applicable petroleum price was the same in relation to all
months of the pre-operative year and to the production area that is the
prescribed source from which the oil was produced—the product of the
number of kilolitres of the stabilised crude petroleum oil produced from that
source that was entered for home consumption during that pre-operative year and
the number of dollars, calculated to 2 decimal places, in the amount specified
in the applicable petroleum price; or
(b) if the applicable petroleum price was not the same in relation to all
months of the pre-operative year and to that production area—the number
ascertained by:
(i) working out, in respect of each applicable petroleum price in
operation in relation to a month or months of that pre-operative year and to
that production area, the product of the number of dollars, calculated to 2
decimal places, in the amount specified in the applicable petroleum price and
the number of kilolitres of the crude petroleum oil produced from that
prescribed source that was entered for home consumption during that month or
those months; and
(ii) adding the products calculated under subparagraph (i).
24 Saving provision
(1) Sections 6AA, 6B and 6C of the Excise Tariff Act 1921, as
in force immediately before the commencement day, continue to apply in relation
to relevant oil produced from a prescribed production area and new oil produced
from a prescribed new production area that is entered for home consumption
during a month of a financial year ending before that day.
(2) In this item:
commencement day means 1 July 2001.
new oil has the same meaning as in subsection 3(1) of the
Excise Tariff Act 1921 as in force immediately before the commencement
day.
prescribed new production area has the same meaning as in
subsection 6C(1) of the Excise Tariff Act 1921 as in force immediately
before the commencement day.
prescribed production area and relevant oil
have the same meanings as in subsection 6B(1) of the Excise Tariff Act 1921
as in force immediately before the commencement day.
Part 2—Minor
technical amendments
25 Subsection 3(1) (definition of
intermediate area)
Omit “Minister for Primary Industries and Energy”, substitute
“Minister for Industry, Science and Resources”.
26 Subsection 3A(1)
Omit “Minister for Primary Industries and Energy”, substitute
“Minister for Industry, Science and Resources”.