EXCISE TARIFF ACT 1921

SECTION 6K   Temporary reduction - CPI indexed fuel rates  

Temporary rate reduction

6K(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) .

6K(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).

6K(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.

6K(4)    
Subsection (3) has effect despite subsection 5(2) .

Restoration of rates

6K(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 .

6K(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.

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

Definitions

6K(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.