Clean Energy (Excise Tariff Legislation Amendment) Act 2011 (156 of 2011)

Schedule 1   Aircraft fuel

Excise Tariff Act 1921

2   After section 6E

Insert:

6FA Changes in rate of duty on gasoline for use as fuel in aircraft

(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 10.6 of the Schedule:

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

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

Replacement rate

(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.

(3) The formula is:

Average carbon unit auction price for the substitution day x 0.0022

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

Application of replacement rate

(4) The replacement rate applies to gasoline 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.

6FB Changes in rate of duty on kerosene for use as fuel in aircraft

(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

(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.

(3) The formula is:

Average carbon unit auction price for the substitution day x 0.0026

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

Application of replacement rate

(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.

6FC Publication of replacement rates for aircraft fuel

(1) The CEO must, on or as soon as practicable after each substitution day mentioned in sections 6FA and 6FB, publish for the information of the public a notice in the Gazette setting out:

(a) each replacement rate mentioned in those sections for that day; and

(b) the goods to which each replacement rate applies.

(2) The CEO must ensure that a copy of a notice under subsection (1) is available on the website of the Australian Taxation Office.