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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
THE
SENATE
Presented and read a first
time
Excise Tariff
Amendment (Petrol Tax Cut) Bill 2001
No.
, 2001
(Senator
Cook)
A Bill for an Act to amend the
Excise Tariff Act 1921 to provide relief from the 1 February 2001
indexation of rates of excise duty applying to
petroleum
ISBN: 0642 465665
Contents
Excise Tariff Act
1921 3
A Bill for an Act to amend the Excise Tariff Act
1921 to provide relief from the 1 February 2001 indexation of rates of
excise duty applying to petroleum
The Parliament of Australia enacts:
This Act may be cited as the Excise Tariff Amendment (Petrol Tax Cut)
Act 2001.
This Act commences on the day on which it receives the Royal
Assent.
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Act is amended or repealed as set out in the applicable items in the Schedule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.
1 After section 6AAA
Insert:
(1) If the application of section 6A, whether or not modified by section
6AAA, will result in an increase in the rate of duty for an item of the Schedule
mentioned in Table 1 for the indexation period starting on 1 February 2001 (the
February 2001 adjustment), the rate of duty is decreased by the
amount of the February 2001 adjustment on and from the day on which the
Excise Tariff Amendment (Petrol Tax Cut) Act 2001 commences.
|
Table 1 |
Items of the Schedule not subject to indexation for the indexation period starting on 1 February 2001 |
|---|---|
|
Table item |
Item of the Schedule |
|
1 |
11 |
|
2 |
12 |
|
3 |
17 |
(2) In this section, indexation period has the meaning given
by section 6A.