Customs Tariff Act 1995

PART 2 - DUTIES OF CUSTOMS  

SECTION 19   INDEXATION OF CPI INDEXED RATES  

19(1)    

If the indexation factor for an indexation day is greater than 1, each CPI indexed rate is, on that day, replaced by the rate of duty worked out using the formula:

CPI indexed rate on the day before the indexation day

×

Indexation factor for the indexation day

Note:

For indexation factor see subsection (3). For CPI indexed rate and indexation day see subsection (10).

19(2)    
The amount worked out under subsection (1) is to be rounded to the same number of decimal places as the CPI indexed rate was on the day before the indexation day (rounding up if the next decimal place is 5 or more).

Indexation factor

19(3)    
The indexation factor for an indexation day is the number worked out using the formula:

	Index number for the most recent reference quarter before the indexation day
	Index number for the base quarter

Note:

For index number, reference quarter and base quarter see subsection (10).

19(4)    
The indexation factor is to be worked out to 3 decimal places (rounding up if the fourth decimal place is 5 or more).

Effect of delay in publication of index number

19(5)    
If the index number for the most recent reference quarter before the indexation day is published by the Australian Statistician on a day (the publication day ) that is not at least 5 days before the indexation day, then, despite subsection (1), any replacement of a CPI indexed rate under subsection (1) happens on the fifth day after the publication day.

Effect of Customs Tariff alteration

19(6)    
If a Customs Tariff alteration proposed in the Parliament proposes to substitute, on and after a particular day, a rate for a CPI indexed rate, treat that substitution as having had effect on and after that day for the purposes of this section.

Changes to CPI index reference period and publication of substituted index numbers

19(7)    
Amounts are to be worked out under this section:

(a) using only the index numbers published in terms of the most recently published index reference period for the Consumer Price Index; and

(b) disregarding index numbers published in substitution for previously published index numbers (except where the substituted numbers are published to take account of changes in the index reference period).

Application of replacement rate

19(8)    
If a CPI indexed rate is replaced under this section on a particular day, the replacement rate applies in relation to:

(a) goods imported into Australia on or after that day; and

(b) goods imported into Australia before that day, where the time for working out the rate of import duty on the goods had not occurred before that day.

Publication of replacement rate

19(9)    
The Comptroller-General of Customs must, on or as soon as practicable after the day a CPI indexed rate is replaced under this section, publish a notice in the Gazette advertising the replacement rate and the goods it applies to.

Definitions

19(10)    
In this section:

base quarter
means the June quarter or December quarter that has the highest index number of all the June quarters and December quarters that occur:

(a) before the most recent reference quarter before the indexation day; and

(b) after the June quarter of 1983.

CPI indexed rate
means:

(a) an alcohol duty rate; or

(b) a fuel duty rate.

December quarter
means a period of 3 months starting on 1 October.

indexation day
means each 1 February and 1 August.

index number,
for a quarter, means the All Groups Consumer Price Index number that is the weighted average of the 8 capital cities and is published by the Australian Statistician in relation to that quarter.

June quarter
means a period of 3 months starting on 1 April.

reference quarter
means the June quarter or December quarter.