EXCISE TARIFF ACT 1921

S 6FB repealed by No 87 of 2014, s 3 and Sch 1 item 3, applicable in relation to goods that are entered for home consumption after 1 July 2014. S 6FB formerly read:

SECTION 6FB Changes in rate of duty on kerosene for use as fuel in aircraft  
6FB(1)
This Act has effect as if, on each day (the substitution day ) that is one of the following days, the rate (the replacement rate ) of duty worked out under subsection (2) for the substitution day were substituted for the rate of duty in subitem 10.17 of the Schedule :

(a) 1 July in 2013 and each later year;

(b) 1 January in 2016 and each later year.

Replacement rate

6FB(2)
The replacement rate is the sum of:

(a) $0.03556 per litre; and

(b) the rate (the carbon component rate ) worked out for the substitution day using the table.

Carbon component rate
	Substitution day	Carbon component rate
1	1 July 2013	$0.06279 a litre
2	1 July 2014	$0.06604 a litre
3	1 July in 2015 or a later year or 1 January in 2016 or a later year	The amount that is: (a) worked out for the substitution day using the formula in subsection (3); and (b) rounded to 5 decimal places (rounding up if the sixth decimal place is 5 or more); per litre

6FB(3)
The formula is:

Per-tonne carbon price equivalent for the substitution day × 0.0026

Note:

Per-tonne carbon price equivalent is defined in subsection 3(1) .

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History

S 6FB(3) substituted by No 200 of 2012, s 3 and Sch 1 item 4, effective 14 December 2012. S 6FB(3) formerly read:

6FB(3)
The formula is:

Average carbon unit auction price for the substitution day × 0.0026

Note:

Average carbon unit auction price is defined in subsection 3(1) .

Application of replacement rate

6FB(4)
The replacement rate applies to kerosene that is entered for home consumption on or after the substitution day (but before the next substitution day) and is for use as fuel in aircraft.

S 6FB inserted by No 156 of 2011, s 3 and Sch 1 item 2, effective 1 July 2012.