Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) If the indexation factor for an indexation day is at least 1, the rate of duty set out in subitem 5.1 of the Schedule (the tobacco duty rate ) is, on that day, replaced by the rate of duty worked out using the formula:
Note: For indexation factor see subsections (3) and (5), for indexation day see subsection (12) and for additional factor see subsection (6).
(2) The amount worked out under subsection (1) is to be rounded to 5 decimal places (rounding up if the sixth decimal place is 5 or more).
Indexation factor
(3) The indexation factor for an indexation day is the number worked out using the formula:
Note: For AWOTE amount , reference quarter and base quarter see subsection (12).
(4) The indexation factor is to be worked out to 3 decimal places (rounding up if the fourth decimal place is 5 or more).
Additional factor
(6) The additional factor for an indexation day is:
(a) 1.05, if the indexation day is 1 September 2023, 1 September 2024 or 1 September 2025; or
(b) 1, for each other indexation day.
Effect of delay in publication of AWOTE amount
(7) If the AWOTE amount for the most recent reference quarter before the indexation day is published by the Statistician on a day (the publication day ) that is not at least 5 days before the indexation day, then, despite subsection (1), any replacement of a tobacco duty rate under subsection (1) happens on the fifth day after the publication day.
Effect of Excise Tariff alteration
(8) If an Excise Tariff alteration proposed in the Parliament proposes to substitute, on and after a particular day, a rate for a tobacco duty rate, treat that substitution as having had effect on and after that day for the purposes of this section.
Publication of substituted AWOTE amounts
(9) If the Statistician publishes an estimate of full - time adult average weekly ordinary time earnings for persons in Australia for a period for which such an estimate was previously published by the Statistician, the publication of the later estimate is to be disregarded for the purposes of this section.
Application of replacement rate
(10) If a tobacco duty rate is replaced under this section on a particular day, the replacement rate applies in relation to goods entered for home consumption on or after that day.
Publication of replacement rate
(11) The CEO must, on or as soon as practicable after the day a tobacco duty rate is replaced under this section, publish a notice in the Gazette advertising the replacement rate and the goods it applies to.
Definitions
(12) In this section:
"AWOTE amount" , for a quarter, means the estimate of the full - time adult average weekly ordinary time earnings for persons in Australia for the middle month of the quarter published by the Statistician in relation to that month.
"base quarter" means the June quarter or December quarter that has the highest AWOTE amount of all the June quarters and December quarters that occur:
(a) before the most recent reference quarter before the indexation day; and
(b) after the December quarter of 2012.
"December quarter" means a period of 3 months starting on 1 October.
"indexation day" means each 1 March and 1 September.
"June quarter" means a period of 3 months starting on 1 April.
"reference quarter" means the June quarter or December quarter.