Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) For the purposes of subitem 10.20 of the Schedule, the rate of duty is the following rate rounded to 3 decimal places (rounding up if the next decimal place is 5 or more):
Rate for denatured ethanol for use as fuel in an internal combustion engine | ||
Item | For the financial year starting on: | the rate is the rate per litre equal to this percentage of the rate in subitem 10.5 of the Schedule: |
1 | 1 July 2015 | 0% |
2 | 1 July 2016 | 6.554% |
3 | 1 July 2017 | 13.108% |
4 | 1 July 2018 | 19.662% |
5 | 1 July 2019 | 26.216% |
6 | 1 July 2020 or a later 1 July | 32.770% |
Note: The rate in subitem 10.5 of the Schedule is the rate for gasoline (other than for use as fuel in aircraft). That rate is indexed under section 6A.
(2) A rate of duty worked out using a table item in subsection (1) applies to goods manufactured or produced in Australia during a financial year referred to in that item, and goods for which all the following conditions are met:
(a) the goods were manufactured or produced in Australia before a financial year referred to in that item;
(b) at the start of that financial year, the goods were either:
(i) subject to the CEO's control; or
(ii) in the stock, custody or possession of, or belonged to, a manufacturer or producer of the goods;
(c) no duty of excise had been paid on the goods before that financial year.
This subsection has effect despite subsection 5(2).