Excise Tariff Amendment (Fuel Tax Reform and Other Measures) Act 2006 (75 of 2006)
Schedule 1 Amendments
Excise Tariff Act 1921
26 Section 6G
Repeal the section, substitute:
6G Duty payable on blended goods
(1) Duty payable under this Act on goods (the blended goods ) that are classified to subitem 10.7, 10.11, 10.12 or 10.30 of the Schedule is worked out using the formula:
[Volume x $0.38143] - Previously paid duties
previously paid duties means the sum of:
(a) the excise duties (if any) that have already been paid on goods that are constituent elements of the blended goods and that are classified to item 10 or 15 of the Schedule; and
(b) if Customs duties have been paid on imported goods that are constituent elements of the blended goods and that would have been classified to item 10 or 15 of the Schedule if manufactured in Australia - so much of the Customs duties paid as represents the application of the excise equivalent rate in relation to those imported goods.
volume means the volume in litres of the blended goods (disregarding any water that has been added to manufacture those goods).
(2) In this section:
excise equivalent rate means so much of the rate of Customs duty applicable to goods on their importation into Australia as is equivalent to the rate of excise duty that would be payable on those goods if manufactured in Australia.