Commonwealth of Australia Bills

[Index] [Search] [Download] [Related Items] [Help]

This is a Bill, not an Act. For current law, see the Acts databases.

EXCISE TARIFF AMENDMENT (CARBON POLLUTION REDUCTION SCHEME) BILL 2010

2008-2009-2010
The Parliament of the
Commonwealth of Australia
HOUSE OF REPRESENTATIVES
Presented and read a first time
Excise Tariff Amendment (Carbon
Pollution Reduction Scheme) Bill 2010
No. , 2010
(Treasury)
A Bill for an Act to amend the Excise Tariff Act
1921, and for related purposes
i Excise Tariff Amendment (Carbon Pollution Reduction Scheme) Bill 2010 No. , 2010
Contents
1 Short
title
...........................................................................................
1
2 Commencement
.................................................................................
1
3 Schedule(s)
........................................................................................
2
Schedule 1--Amendments
3
Excise Tariff Act 1921
3
Excise Tariff Amendment (Carbon Pollution Reduction Scheme) Bill 2010 No. , 2010 1
A Bill for an Act to amend the Excise Tariff Act
1
1921, and for related purposes
2
The Parliament of Australia enacts:
3
1 Short title
4
This Act may be cited as the Excise Tariff Amendment (Carbon
5
Pollution Reduction Scheme) Act 2010.
6
2 Commencement
7
(1) Each provision of this Act specified in column 1 of the table
8
commences, or is taken to have commenced, in accordance with
9
column 2 of the table. Any other statement in column 2 has effect
10
according to its terms.
11
12
2 Excise Tariff Amendment (Carbon Pollution Reduction Scheme) Bill 2010 No. ,
2010
Commencement information
Column 1
Column 2
Column 3
Provision(s)
Commencement
Date/Details
1. Sections 1 to 3
and anything in
this Act not
elsewhere covered
by this table
The day this Act receives the Royal Assent.
2. Schedule 1
1 July 2011.
However, the provision(s) do not commence
at all if section 3 of the Carbon Pollution
Reduction Scheme Act 2010 does not
commence before 1 July 2011.
1 July 2011
Note:
This table relates only to the provisions of this Act as originally
1
passed by both Houses of the Parliament and assented to. It will not be
2
expanded to deal with provisions inserted in this Act after assent.
3
(2) Column 3 of the table contains additional information that is not
4
part of this Act. Information in this column may be added to or
5
edited in any published version of this Act.
6
3 Schedule(s)
7
Each Act that is specified in a Schedule to this Act is amended or
8
repealed as set out in the applicable items in the Schedule
9
concerned, and any other item in a Schedule to this Act has effect
10
according to its terms.
11
12
Amendments Schedule 1
Excise Tariff Amendment (Carbon Pollution Reduction Scheme) Bill 2010 No. , 2010
3
Schedule 1--Amendments
1
2
Excise Tariff Act 1921
3
1 After section 6A
4
Insert:
5
6AA Reduction of duty on fuels--offset of impact of carbon
6
pollution reduction scheme
7
Definitions
8
(1) In this section:
9
6-month average Australian emissions unit auction charge means
10
the amount published under section 271 of the Carbon Pollution
11
Reduction Scheme Act 2010.
12
notional rate amount means the amount specified in the definition
13
of notional rate amount in subsection 6G(1).
14
Note:
See also subsection (7) (substituted notional rate amount).
15
relevant rate means a rate of duty specified in subitem 10.1, 10.2,
16
10.3, 10.5, 10.10, 10.15, 10.16, 10.18, 10.20, 10.21, 10.25, 10.26,
17
10.27 or 10.28 of the Schedule.
18
Note:
See also subsection (6) (substituted rate of duty).
19
Rate-reducing day
20
(2) For the purposes of this section, a day that is any of the following:
21
(a) 1 July 2012;
22
(b) 1 January 2013;
23
(c) 1 July 2013;
24
(d) 1 January 2014;
25
(e) 1 July 2014;
26
is a rate-reducing day if the amount worked out using the
27
following formula is greater than 0:
28
Schedule 1 Amendments
4 Excise Tariff Amendment (Carbon Pollution Reduction Scheme) Bill 2010 No. ,
2010
6-month average
Australian emissions unit
Designated
auction charge
Australian emissions unit
published during the month
charge
preceding that day
-
1
where:
2
designated Australian emissions unit charge means:
3
(a) if there has been a previous rate-reducing day--the greater of
4
the following amounts:
5
(i) the 6 month average Australian emissions unit auction
6
charge published during the month preceding the most
7
recent rate-reducing day;
8
(ii)
$10;
or
9
(b)
otherwise--$10.
10
(3)
The
rate reduction for a later rate-reducing day is the amount
11
worked out to 5 decimal places (rounding up if the sixth decimal
12
place is 5 or more) using the formula:
13
The amount worked out
10
in relation to that day
0.0027
11
using the formula in subsection (2)
×
×
14
Substituted rate of duty
15
(4) This Act has effect as if, on a rate-reducing day, there were
16
substituted for each relevant rate a rate of duty worked out using
17
the formula:
18
Rate reduction
Relevant rate
for the rate-reducing day
-
19
Substituted notional rate amount--blended goods
20
(5) This Act has effect as if, on a rate-reducing day, there were
21
substituted for the notional rate amount the amount worked out
22
using the formula:
23
Rate reduction
Notional rate amount
for the rate-reducing day
-
24
Amendments Schedule 1
Excise Tariff Amendment (Carbon Pollution Reduction Scheme) Bill 2010 No. , 2010
5
Publication of substituted rate of duty
1
(6) If, under subsection (4), this Act is to have effect as if another rate
2
of duty were substituted for a relevant rate on a rate-reducing day,
3
the Commissioner of Taxation must, on or as soon as practicable
4
after that day, publish for the information of the public a notice in
5
the Gazette setting out:
6
(a) the substituted rate; and
7
(b) the goods to which it applies.
8
(6A) The Commissioner of Taxation must ensure that a copy of a notice
9
under subsection (6) is available on the website of the Australian
10
Taxation Office.
11
Publication of substituted notional rate amount--blended goods
12
(7) If, under subsection (5), this Act is to have effect as if an amount
13
were substituted for the notional rate amount on a rate-reducing
14
day, the Commissioner of Taxation must, on or as soon as
15
practicable after that day, publish for the information of the public
16
a notice in the Gazette setting out:
17
(a) the substituted amount; and
18
(b) the goods to which section 6G applies.
19
(7A) The Commissioner of Taxation must ensure that a copy of a notice
20
under subsection (7) is available on the website of the Australian
21
Taxation Office.
22
Substituted 6-month average Australian emissions unit auction
23
charge
24
(8) If an amount is published under section 271 of the Carbon
25
Pollution Reduction Scheme Act 2010 in substitution for an amount
26
previously published under that section, the publication of the later
27
amount is to be disregarded for the purposes this section.
28
2 Subsection 6G(1) (formula)
29
Repeal the formula, substitute:
30
Volume
Notional rate amount
Previously paid duties
×
-
31
3 Subsection 6G(1)
32
Schedule 1 Amendments
6 Excise Tariff Amendment (Carbon Pollution Reduction Scheme) Bill 2010 No. ,
2010
Insert:
1
notional rate amount means $0.35688.
2
Note:
See also subsection 6AA(7) (substituted notional rate amount).
3
4 After subsection 6G(1)
4
Insert:
5
(1A) However, if the amount worked out using the formula is a negative
6
amount, the amount is taken to be zero.
7
5 Schedule (subitems 10.1, 10.2, 10.3, 10.5, 10.10, 10.15,
8
10.16, 10.18, 10.20, 10.21, 10.25, 10.26, 10.27 and 10.28)
9
Omit "$0.38143 per litre" (wherever occurring), substitute "$0.35688
10
per litre".
11

 

[Index] [Search] [Download] [Related Items] [Help]