House of Representatives

Energy Grants and Other Legislation Amendment (Ethanol and Biodiesel) Bill 2015

Second Reading Speech

Mr FRYDENBERG (Kooyong Assistant Treasurer)

I move


That this bill be now read a second time.

The Energy Grants and Other Legislation Amendment (Ethanol and Biodiesel) Bill 2015 is one of a number of bills in this package that implements measures to change the taxation treatment of fuel ethanol and biodiesel.

The measures remove existing grant schemes and instead provide that the domestic production of biodiesel and fuel ethanol will be subject to a reduced but gradually increasing rate of excise.

Full details of the measure are contained in the explanatory memorandum.

Debate adjourned.