Supplementary Explanatory Memorandum
Circulated by the authority of the Treasurer, the Hon Wayne Swan MPGeneral outline and financial impact
Amendments to the Excise Legislation Amendment (Condensate) Bill 2008 and the Excise Tariff Amendment (Condensate) Bill 2008
These amendments ensure that the measure applying the crude oil excise to production of condensate commences from midnight 13 May 2008 as announced by the Government. Further, two technical amendments are made to improve the operation of the Bills.
Date of effect : Midnight 13 May 2008.
Proposal announced : Not previously announced.
Financial impact : Nil.
Compliance cost impact : Nil.
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