Commonwealth Consolidated Acts

EXCISE TARIFF ACT 1921 - SECT 6FAA

  (1)   This Act has effect as if, on 1   July 2015:

  (a)   the rate of duty in subitem   10.19A of the Schedule is replaced by:

  (i)   $0.126 per litre; or

  (ii)   if the indexed rate worked out under subsection   (2) is greater than $0.126 per litre--that indexed rate; and

  (b)   the rate of duty in subitem   10.19B of the Schedule is replaced by:

  (i)   $0.2644 per kilogram; or

  (ii)   if the indexed rate worked out under subsection   (2) is greater than $0.2644 per kilogram--that indexed rate; and

  (c)   the rate of duty in subitem   10.19C of the Schedule is replaced by:

  (i)   $0.2644 per kilogram; or

  (ii)   if the indexed rate worked out under subsection   (2) is greater than $0.2644 per kilogram--that indexed rate.

  (2)   To work out the indexed rate, index the rate mentioned in paragraph   (1)(a), (b) or (c) (as applicable) on 1   February 2015 under section   6A, on the assumptions that:

  (a)   the rate is a CPI indexed rate for the purposes of that section; and

  (b)   the amount of that rate on the day before 1   February 2015 is the amount set out in subparagraph   (1)(a)(i), (b)(i) or (c)(i) (as applicable).