Revised Explanatory Memorandum
(Circulated by authority of the Treasurer, the Hon Peter Costello, MP)General outline and financial impact
Diesel and Alternative Fuels Grants Scheme Amendment Bill 2000
This Bill amends the Diesel and Alternative Fuels Grants Scheme Act 1999 (DAFGSA 1999) to eliminate problems identified in administering the Scheme and to ensure that it better reflects the Government's policy intent. This Bill also makes consequential amendments to the Tax Administration Act 1953 (TAA 1953) .
The DAFGSA1999 represents a commitment that the Government made to Australia's rural and regional heartland in the lead up to the 1998 election.
Date of effect: The provisions will commence from the date of Royal Assent. It is intended that the grant will be payable for fuel purchased from 1 July 2000.
Proposal announced: The Diesel and Alternative Fuels Grants Scheme was announced by the Government on 28 May 1999 as part of the agreement between the Government and the Australian Democrats.
Financial impact: The extensions to the grant will cost approximately $17 million in the 2000-2001 financial year.
Compliance cost impact: The substantiation requirements for those entitled to claim the grant as a consequence of these amendments will be the same as for those previously entitled.