Excise and Customs Legislation Amendment (Streamlining Administration) Act 2024 (51 of 2024)
Schedule 1 Streamlining administration
Part 4 Removing licence requirements for certain producers of crude oil and condensate
Excise Tariff Act 1921
192 Subsection 3(1)
Insert:
exempt onshore condensate means condensate that is included in exempt onshore oil and condensate.
exempt onshore oil means stabilised crude petroleum oil that is included in exempt onshore oil and condensate.
exempt onshore oil and condensate means:
(a) if a particular onshore field produces stabilised crude petroleum oil and condensate - stabilised crude petroleum oil and condensate produced from the field after 30 June 1987 that is included in the first 4767.3 megalitres of stabilised crude petroleum oil and condensate produced from the field before, on or after 30 June 1987; or
(b) if a particular onshore field produces stabilised crude petroleum oil but not condensate - stabilised crude petroleum oil produced from the field after 30 June 1987 that is included in the first 4767.3 megalitres of stabilised crude petroleum oil produced from the field before, on or after 30 June 1987; or
(c) if a particular onshore field produces condensate but not stabilised crude petroleum oil - condensate produced from the field after 30 June 1987 that is included in the first 4767.3 megalitres of condensate produced from the field before, on or after 30 June 1987.