Commonwealth Numbered Acts

Excise Tariff Amendment Act (No. 2) 1984 No. 131 of 1984 - SECT 7

7. After section 6B of the Principal Act the following section is inserted:
Duties of excise on new oil

"6C. (1) In this section-
'Import Parity Price' means the amount that is the Import Parity Price within
the meaning of section 6B;
'prescribed division', in relation to a financial year, has the same meaning
as in section 6B;
'prescribed new production area' means a new petroleum production area
prescribed by Departmental By-laws (which, without limiting the generality of
the foregoing, may be a discrete accumulation of oil, of gas or of both, a
well, an oilfield or a gas field).



"(2) The amount of duty in respect of new oil ascertained in accordance with
this section shall be ascertained by reference to the prescribed new
production area from which the oil is produced and to the prescribed division
of a financial year during which the oil is entered for home consumption.

"(3) The amount of duty in respect of new oil produced from a particular
prescribed new production area and entered for home consumption during a
particular prescribed division of a financial year is the difference (if any)
between-

   (a)  the amount of notional duty in respect of new oil produced from that
        production area and entered for home consumption during the period
        commencing on the commencement of that financial year and ending on
        the expiration of that prescribed division; and

   (b)  the amount of duty (if any) paid in respect of the new oil produced
        from that production area and entered for home consumption during that
        period.



"(4) The amount of notional duty in respect of new oil produced from a
particular prescribed new production area and entered for home consumption
during a particular period is the sum of the amounts of notional duty in
respect of-

   (a)  the quantity (if any) of the oil that exceeds A x 10B but does not
        exceed A x 12B;

   (b)  the quantity (if any) of the oil that exceeds A x 12B but does not
        exceed A x 14B;

   (c)  the quantity (if any) of the oil that exceeds A x 14B but does not
        exceed A x 16B; and

   (d)  the quantity (if any) of the oil that exceeds A x 16B, where-
A is the number of days in the period;
B is-

   (a)  where the period is in a year in which there are 365 days-136.98630
        kilolitres; or

   (b)  where the period is in a year in which there are 366 days-136.61202
        kilolitres.



"(5) Subject to sub-sections (6) and (9), the amount of notional duty in
respect of a quantity of oil referred to in sub-section (4) is an amount equal
to the relevant percentage of the product of-

   (a)  the amount specified in the Import Parity Price; and

   (b)  the number of kilolitres in that quantity, calculated to the nearest
        cent.



"(6) Where a variation of the Import Parity Price has occurred, or variations
of the Import Parity Price have occurred, during a financial year, the amount
of the notional duty in respect of a quantity of oil referred to in
sub-section (4) produced from a particular prescribed new production area and
entered for home consumption during a period in that year (in this section
referred to as the 'relevant period') is an amount equal to the relevant
percentage of the sum of the amounts calculated in respect of each Import
Parity Price in operation during that period in accordance with the formula-
C x D x J
-------------
K where-
C is the amount specified in the Import Parity Price;
D is the number of kilolitres in the quantity;
J is the number of kilolitres of new oil produced from that production area
and entered for home consumption after the commencement of the relevant period
or the day on which the Import Parity Price was determined (whichever occurred
last) and before the end of the relevant period or the day on which another
Import Parity Price was determined (whichever occurred first);
K is the number of kilolitres of new oil produced from that production area
and entered for home consumption during the relevant period.



"(7) For the purposes of sub-sections (5) and (6), the relevant percentage in
relation to a quantity of oil referred to in sub-section (4) is-

   (a)  in the case of a quantity to which paragraph (4) (a) applies-10%;

   (b)  in the case of a quantity to which paragraph (4) (b) applies-20%;

   (c)  in the case of a quantity to which paragraph (4) (c) applies-30%; and

   (d)  in the case of a quantity to which paragraph (4) (d) applies-35%.



"(8) For the purposes of sub-sections (5) and (6), the number of kilolitres in
a quantity of oil shall be taken to be a number equal to-

   (a)  unless paragraph (b) applies-the number of kilolitres in that quantity
        calculated to 1 decimal place; or

   (b)  where the number of kilolitres in that quantity calculated to 2
        decimal places ends in a number greater than 4-the number of
        kilolitres in that quantity calculated to 1 decimal place increased by
        0.1.



"(9) Where no new oil produced from a particular prescribed new production
area was ever entered for home consumption before the expiration of the first
prescribed division of a particular financial year, then, in ascertaining, in
accordance with sub-sections (4), (5) and (7) or (4), (6) and (7), the
notional duty in respect of new oil produced from that production area and
entered for home consumption during a later prescribed division (in this
sub-section referred to as the 'relevant division') of that financial year,
those sub-sections have effect in relation to the new oil as if each reference
in a paragraph of sub-section (4) to B were a reference to the product of B
and the factor ascertained in accordance with the formula-
M
----
N where-
M is the number of days in the period commencing on the day on which new oil
produced from the prescribed new production area was first entered for home
consumption and ending on the expiration of the relevant division; and
N is the number of days in the period commencing on the first day of the
financial year and ending on the expiration of the relevant division.



"(10) The words set out after ', if higher,' in the column headed 'Rate of
Duty' in sub-paragraph 17 (A) (2) (a) in the Schedule shall be deemed, for the
purposes of this Act or any other law of the Commonwealth, to be a rate of
duty.".