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  • Excise

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    Excise duty is levied on certain goods manufactured or produced in Australia. These goods include crude oil, petroleum products, tobacco and alcohol (spirits, beer, liqueur and ready-to-drink products but not wine).

    Excise duties applied to tobacco and alcohol are increased in February and August each year, in line with upward movements in the consumer price index. Indexation is not applied to petroleum products.

    Excise duty is applied to crude oil on an ad valorem tax basis. The excise liability is calculated by applying marginal rates to the volume weighted average realised (VOLWARE) price.

    Taxpayers self-assess their excise duty liability. The Tax Office helps manufacturers, producers and dealers in excisable goods to meet their obligations.

    For the purpose of this publication, excise revenue is recorded when the products are cleared for home consumption. The time difference between liabilities raised and the receipt of payment for products such as tobacco, alcohol and petroleum, is approximately one week. For crude oil, payment is made on or before the last working day of the month following the month in which it was cleared.

    OVERVIEW

    For the 2006-07 financial year:

    • total excise liabilities were $22.9 billion
    • excise from refined petroleum products was $14.2 billion, and
    • excise clearances for crude oil totalled $535.0 million, an increase of 62.0%.
     
      Last modified: 18 Mar 2008QC 20124