Commonwealth Consolidated Acts

EXCISE TARIFF ACT 1921 - SECT 6K

Temporary rate reduction

  (1)   Despite any other provision of this Act, each CPI indexed fuel rate is, during a rate reduction period, a rate equal to 50% of the rate that it would have been during that period apart from this section (including because of the operation of section   6A).

Note:   For CPI indexed fuel rate and rate reduction period , see subsection   (8).

  (2)   An amount worked out under subsection   (1) is to be rounded to 3 decimal places (rounding up if the next decimal place is 5 or more).

  (3)   A CPI indexed fuel rate that applies under subsection   (1) during a rate reduction period applies to:

  (a)   goods manufactured or produced in Australia during that period; and

  (b)   goods manufactured or produced in Australia before the start of that period if:

  (i)   at the start of the period, the goods were either subject to the CEO's control, or were in the stock, custody or possession of, or belonged to, a manufacturer or producer of the goods; and

  (ii)   no duty of excise had been paid on the goods before the start of the period.

  (4)   Subsection   (3) has effect despite subsection   5(2).

Restoration of rates

  (5)   This Act has effect as if, on 29   September 2022, each CPI indexed fuel rate is a rate equal to the rate that it would have been on the August adjustment day apart from subsection   (1) (including because of the operation of section   6A).

Note 1:   For August adjustment day , see subsection   (8).

Note 2:   A rate that applies under this subsection is subject to later indexation under section   6A.

  (6)   A CPI indexed fuel rate that applies under subsection   (5) applies to:

  (a)   goods manufactured or produced in Australia on or after 29   September 2022; and

  (b)   goods manufactured or produced in Australia before 29   September 2022 if:

  (i)   on 29   September 2022, the goods were either subject to the CEO's control, or were in the stock, custody or possession of, or belonged to, a manufacturer or producer of the goods; and

  (ii)   no duty of excise had been paid on the goods before 29   September 2022.

  (7)   Subsection   (6) has effect despite subsection   5(2).

Definitions

  (8)   In this section:

"August adjustment day" means the following:

  (a)   1   August 2022, unless paragraph   (b) applies;

  (b)   if, in relation to the indexation day that is 1   August 2022, the replacement under section   6A of a rate of duty happens on another day in accordance with subsection   6A(5)--that other day.

"CPI indexed fuel rate" means a rate covered by paragraph   (b) or (c) of the definition of CPI indexed rate in subsection   6A(10).

"rate reduction period" : each of the following is a rate reduction period :

  (a)   the period beginning on 30   March 2022 and ending at the end of the day before the August adjustment day;

  (b)   the period beginning on the August adjustment day and ending at the end of 28   September 2022.